The US Census Bureau released the January soybean crush from US oil mills today at 160.284 million bushels. The January crush compares to year earlier levels of 155.3 million bushels and December 2007 levels of 162.4 million bushels. In order to meet USDA's 2007/08 final soybean crush target of 1.83 billion bushels, the January soybean crush had to be a minimum of 157 million bushels. The pre-report estimates by the trade were from 159 to 163 million bushels, so even with the actual number just below what was estimated, given the relatively tight soybean stocks, trade may view this report as neutral to bullish.
Pre-report estimates for Bean Oil Stocks were 3.158 billion pounds and the Census Bureau reported a little less at 3.094 billion pounds. Last month Bean Oil Stocks were reported at 3.202 billion pounds. Trade may view this as somewhat supportive.
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