Soybean Crush 15% Over September, 5% Above October 2019

The US Department of Agriculture’s (USDA) October crush data was in line with expectations from the data previously released by the National Oilseed Processors Association (NOPA) for October.  Per the USDA, 196.6 million bushels of beans were crushed during October, resulting in 2.28 billion pounds of oil and 4.34 million tons of meal. The October soybean crush reached an all-time high.  It was 15 percent over the September crush and 5.1 percent over the October 2019 crush. Crude oil production was 16 percent above September output and soybean meal production was 15.5 percent higher. 

Soybean meal stocks increased for the fist time in five months, rebounding slightly after hitting an 8-month low in September.  October meal stocks were 342,914 toons, 10 percent above September and two percent over levels seen a year ago. Crude soybean oil…