Second Highest Soybean Crush Keeps Meal Supply Moving

The National Oilseed Processors Association (NOPA) reported the US December soybean crush was the largest December crush on record and the second largest monthly crush total of all-time. The crush consumed 183.162 million bushels of soybeans, outpacing the previous December record of 175.4 bushels set last year.  The monthly crush was 1.2 percent above the November crush and five percent over the December 2019 crush. Analyst had been expecting the crush to be about one percent higher at 185.2 million bushels.  

Soybean oil stocks increased to 1.699 billion pounds, nine percent over November stock levels but three percent under December 2019.  Soybean oil stocks are at a 6-month high.  Soybean meal exports of 1.037 million tons were four percent lower than in November but 15 percent over December 2019.  

Cumulative bushels crushed by NOPA…