The estimated crush margin more than offset the prior week’s nine percent decline, climbing nearly 11 percent this week as revenue streams approached multi-year highs. The value received from oil and meal sales per bushel of soybeans crushed held increased from $11.22 per bushel to $11.84, while the price of soybeans moved 47 cents higher to $10.31 per bushel. The margin expanded 11 percent to $1.53 per bushel, a three-week high.
The recent rally in commodity prices shows soybean prices to be 19 percent above values from a year ago, soybean oil values are 20 percent higher, and meal prices up 11 compared to a year ago. Despite the recent run-up in meal and oil pricing, the crush margin is 10 percent below levels seen on September 19, 2019.
The National Oilseed Processors Association (NOPA) reported the US soybean crush reached a nine-month…
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US hog slaughter
Fastmarkets research...