The crush margin in Central Illinois rose by 7.9% week on week but was down by 34.1% year on year in the week to Friday August 23, according to the National Weekly Grain Co-Products Report released by the USDA on Monday August 26.
In the week to Friday, soybean meal prices dropped to $339.70 per short ton following a two-year low, down by 0.3% from $340.75 per ton the week before and down by 22.8% year on year.
Soybean prices hit a three-year low last week and fell again to $10.13 per bushel, down by 0.3% week on week from $10.16 per bu and down by 29.8% from the previous year.
The price of soybean oil increased to 42.30 cents per lb, up by 4.1% from 40.64 cents per lb week on week but down by 40.4% year on year.
The reductions in soybean and soybean meal prices led to a crush margin of $2.76 per bu, up by 9 cents per bu from the prior six-week average of $2.67 per bu.
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