The US soybean crush slowed in April, falling to a seven-month low at 166.03 million bushels, from a record high of 196.406 million bu in March, the National Oilseed Processors Association (NOPA) reported on Wednesday May 15.
The crush figure was down by more than 30 million bu, or more than 15%, month on month and more than 4% year on year to a three-year low for the month of April. The April crush figure was well below the average market expectation of 183 million bu. Market sources had anticipated a lower crush in April, partially due to maintenance downtime at processing plants.
For the first time in six months, domestic soybean oil stockpiles among NOPA members was down in April, with soybean oil stocks declining to 1.75 billion lbs, down more than 5% from the 10-month high of 1.851 billion lbs at the end of March.
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