Softer domestic demand and improved South American crops reduce soybean meal Demand and soybean oil production

After a strong spring start, where soybean meal demand was running ahead of more aggressive USDA projections, demand has slowed noticeably in the past few months.  In the latest WASDE report, domestic meal demand was reduced by 350,000 short tons.  This factored in to the USDA reducing the soybean crush by 15 million bushels. 

Lowering…