The estimated crush margin edged fractionally lower during the past week. Lower soybean cost and stronger soybean oil prices were supportive for the crush margin while falling soybean meal prices more than offset those moves. In Central IL, the price for soybeans declined 0.7 percent, soybean meal values were off 1.8 percent, and soybean oil prices increased 0.3 percent during the week ending June 3, 2021. The value received from oil and meal sales per bushel of soybeans crushed dropped from $17.27 per bushel to $17.14, while soybean prices declined from $14.88 to $14.77 cents per bushel. This allowed the margin to narrow two cents to $2.37 per bushel. The crush margin is fractionally below last week’s value but 65 percent above a year ago.
Soybean complex pricing remains well supported and crush margins have improved dramatically due in a large part to strong soybean oil price…
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