In the week to Friday January 3, the soybean crush margin in Central Illinois increased by 17.4% week on week and by 4.7% year on year, according to the USDA’s National Weekly Grain Co-Products Report released on Monday January 6.
In the week to Friday, soybean meal prices hit a two-month high of $325.50 per short ton, up by 9.1% week on week from $298.40 per ton but down by 16.9% year on year.
Soybean prices rose to $9.98 per bushel, up by 2.6% week on week from $9.73 per bu but down by 21.4% from a year earlier.
Soybean oil prices fell to 40.22 cents per lb, down by 0.7% week on week from 40.51 cents per lb and down by 18.4% year on year.
The decline in soybean oil prices led to a crush margin of $2.33 per bu. This represents a drop of 8 cents per bu compared with the previous six-week average of $2.41 per bu.
Market update
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