The estimated crush margin fell more than 20 percent in Central IL as soybean costs climbed while meal values fell. Despite soybean oil prices climbing 7.5 percent, it wasn’t enough to offset the effect of lower meal prices and higher soybean costs. The value received from oil and meal sales per bushel of soybeans crushed advanced from $15.88 per bushel to $16.04, while soybean prices jumped from $13.88 to $14.47 cents per bushel. This narrowed the margin to 43 cents to $1.57 per bushel, a six-week low. The crush declined 21.4 percent from last week and is 14 percent below the level seen at this time last year.
Soybean and soybean oil prices continue to be well supported relative to last year. Soybean meal prices are also much stronger but beginning to trend down from recent highs. Stressed domestic stock levels and export demand…
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