The soybean crush totaled 166.034 million bushels, down by 15% from a record of 196.406 million bushels in March and down by 4% from 173.232 million bushels crushed in April 2023, according to a report from the National Oilseed Processors Association (NOPA).
The April crush was below the average trade assessment of 174.173 million bushels, and fell below the low end of the estimate range for the month. Estimates for the crush ranged from 172 million-177.5 million bushels.
The USDA May 2024 World Agriculture Supply and Demand estimate (WASDE) held the 2023/24 crop season crush estimate at 2.3 billion bushels of soybeans and introduced the 2024/25 crush estimate at 2.425 billion bushels. The 2023/24 crush is expected to be 3.98% above the 2022/23 crush, and the 2024/25 crop season crush is forecast to be 5.43% over the 2023/24 crush.
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