In the week to Friday February 28, the soybean crush margin in Central Illinois fell to the lowest level since May 2023, down by 12% week on week and by 22% year on year, according to the USDA’s National Weekly Grain Co-Products Report released on Monday March 3.

In the week to Friday, soybean meal prices rose to $297.90 per short ton, up by 0.4% week on week from $296.80 per ton but down by 17% year on year.

Soybean prices fell to $10.22 per bushel, down by 1% week on week from $10.34 per bu and down by 11% from a year earlier.

Soybean oil prices decreased to 42.53 cents per lb, down by 7% week on week from 45.81 cents per lb and down by 5% year on year.

The decline in soybean and soybean oil prices led to a crush margin of $1.72 per bu, down by 27 cents per bu compared with the six-week average of $1.99 per bu.

Market update

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