**Please note, The Jacobsen will not publish a bulletin on Monday, February 19 in observance of Presidents’ Day.**

U.S. soybean crush was down sharply on the month in January, falling almost five percent to 185.78 million bushels, the National Oilseed Processors Association (NOPA) showed on February 15. This compared to December 2023’s all-time record crush of 195.328 million bushels. The January monthly crush figure, which was down sharply from the average market expectation of about 190 million bushels, was still up close to four percent on the year and was a new high for the month of January.

NOPA members process about 95 percent of the country’s soybeans. Crushers have ramped up processing capacity to meet rising feedstock demand from the biofuels sector. However, cold and wintery weather in many parts of the country in mid-January impacted logistics and/or operations at several domestic plants last month.

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