The crush margin in Central Illinois rose by 3.2% week on week but was down by 42.8% year on year in the week to Friday August 16, according to the National Weekly Grain Co-Products Report released by the USDA on Monday August 19.
In the week to Friday, soybean meal prices fell to a two-year low of $340.75 per short ton, down by 1.7% from $346.47 per ton the week before and down by 20.7% year over year.
Soybean prices hit a three-year low at $10.16 per bushel, down by 5.1% week on week from $10.70 per bushel and down by 27.8% from the previous year.
The price of soybean oil declined to 40.64 cents per lb, down by 6.4% from 43.42 cents per lb week on week and down by 44% year on year.
These reductions in the prices of soybeans, soybean oil, and soybean meal led to a crush margin of $2.56 per bushel, down by 7 cents per bu from the prior six-week average of $2.63 per bu.
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