May US soybean crush jumps 14% month on month

May US soybean crush jumps 14% month on month

US soybean crush reached 192 million bushels in May, climbing by 14% from 178 million bu in April and up by 1.6% from May 2023, according to the USDA’s Monthly Fats and Oils report released on Monday July 1.

The latest monthly soybean crush figure was below average market estimates that had called for crush to come in at about 194 million bu.

Crude soybean oil production in May was 2.27 billion lbs, up by 8% month on month and by 2% year on year. Refined US soybean oil production was 1.78 million lbs in May, up by 4% month on month but down 3% year on year.

Domestic processors crushed 143,469 tons of canola seeds in May, down from 188,515 tons in April 2024 but up from 140,590 tons in May 2023. US crude canola oil production totaled 117 million lbs, down by 24% month on month but up by 2% year on year. May refined canola oil production was down by 23% month on month and up by 7% year on year to 115 million lbs.

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