The estimated crush margin improved by nearly four percent in Central IL as lower soybean costs and increased soybean oil values combined to more than offset lower soybean meal prices. The value received from oil and meal sales per bushel of soybeans crushed advanced from $15.52 per bushel to $15.54, while soybean prices dipped from $13.85 to $13.80 cents per bushel. This allowed the margin to expand seven cents to $1.74 per bushel. The crush margin is 3.5 percent below the margin value at this time last year.
Soybean, soybean meal and soybean oil prices continue to remain well supported relative to last year. Strong cash market gains and export demand have helped to support the soybean complex in recent weeks. Soybean prices are 52.5 percent over last year’s value, soybean oil is 54 percent stronger, and meal prices are up 46 percent relative to last year.
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