The estimated crush margin pulled back from the multi-year highs achieved the week prior as co-product crushing revenue moved lower. The value received from oil and meal sales per bushel of soybeans crushed decreased from $16.43 per bushel to $16.09, while soybean prices fell from $13.07 to $12.81 cents per bushel. This allowed the margin to narrow $0.08 cents to $3.26 per bushel. The crush margin fell 2.4 percent from last week but is 137 percent above year ago levels.
Soybean, soybean meal, and soybean oil prices remain well supported and promoting strong margin potential for crushing. Tight supply and solid export demand have helped support the soybean complex. Demand from the food and fuel industries continues to underpin soybean oil values, which remain double the price from a year ago. Insufficient crushing and refining capacity are leading to new crushing facilities…
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