April 23, 2017

NOPA Crush 4-17-2017

NOPA crush disappoints. 153.060 million bushels of soybeans were crushed in March, under the trade’s 156.728 estimate. This was 2.3% under last year.

Sep – Mar crush now runs 1.8% over last year. The past two months have been poor at 2.3% under. USDA’s whole-year goal of 1.940 billion is 2.9% over last year. To hit their goal we would need to run 4.6% higher than last year from April through August.

If we run 2% over last year from here on out, we would still miss USDA by 19 million bushels. USDA needs to lower crush.


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