The US Department of Agriculture’s (USDA) May crush data was in line with expectations from the data previously released by the National Oilseed Processors Association (NOPA) in mid-June. Per the USDA, 179.6 million bushels of beans were crushed during May, resulting in 2.06 billion pounds of oil and 3.97 million tons of meal. The May soybean crush was 2.1 percent below the April crush total but 8.5 percent over the May 2019 crush. Crude oil output fell two percent and soybean production declined 1.7 percent from April.
Soybean meal stocks moved from a three-month low of 341,681 tons in April to a 14-month high of 442,173 tons at the end of May. Soybean meal stocks climbed 29.4 percent in the month of May and are 60 percent above levels seen a year ago. Crude soybean oil inventory pulled back from the two year high of 2.2 billion pounds reached in…
05.01.2024
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