Market sources’ average crush estimate for November was around 196.5 million-197 million bushels of soybeans.
NOPA reported the October soybean crush at 199.96 million bu, up by 13% month on month and by more than 5% year on year. The figure surpassed the prior monthly processing record of 196.41 million bu set in March.
NOPA members process about 95% of US soybeans.
The outlook for implied US soyoil demand for November was mixed, with domestic soybean oil stocks expected to hover between 1.0 million-1.1 billion lbs.
NOPA’s estimate of soybean oil stockpiles among members in October was 1.069 billion lbs, down from 1.066 billion lbs in September and from 1.63 billion lbs in August.
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