In the week to Friday October 25, the soybean crush margin in Central Illinois decreased by 2% week on week and by 21.5% year on year, according to the USDA’s National Weekly Grain Co-Products Report released on Monday October 28.
In the week to Friday, soybean meal prices dropped to a three-year low of $338.80 per short ton, down by 2.3% week on week from $346.60 per ton and down by 26.1% year on year.
Soybean prices increased to $9.85 per bushel, up by 0.9% week on week from $9.76 per bu but down by 23.9% from a year earlier.
Soybean oil prices rose to 44.66 cents per lb, up by 4.1% week on week from 42.92 cents per lb but down by 18.7% year on year.
The increase in soybean and soybean oil prices led to a crush margin of $3.30 per bu, up by 11 cents per bu from the prior six-week average of $3.19 per bu.
Market update
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10.28.2024
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