April soybean crush data released by NOPA misses market expectations

— NOPA’s April soybean crush was 169.788 million bushels

— Analysts expected 172.37 million bushels

Foreign media May 16 news: The National Oilseed Processing Industry Association (NOPA) released monthly crush data on May 16 at 11 a.m. Central time, and soybean crush in April was lower than market expectations.

The NOPA report showed that soybean crush in April was 169.788 million bushes, down 6.6% from March’s 181.759 million bushes, but 5.9% higher than April 2021’s 160.310 million bushes, which is also the second-highest crush for the same period in history. Second only to April 2020’s record crush for the same period.

Despite the lucrative crushing, soybean crushing slowed in April due to seasonal maintenance by some manufacturers.

Before the report was released, analysts on average expected that the soybean crush of NOPA member companies in April 2022 would reach 172.370 million bushes, with a measurement range from 169.448 million bushes to 177.00 million bushes, with a median value of 171.825 million bushes.

The soybeans processed by NOPA member companies account for about 95% of the national total.

U.S. soybean crush profit was $4.47 a bushel in the week ended April 29, down from $4.81 a month earlier, but still 73.26 percent higher than a year earlier, according to USDA data.

The U.S. Department of Agriculture’s May supply and demand report forecast U.S. soybean crush at 2.215 billion bushels in 2021/22, unchanged from the April forecast and 3.5% higher than the 2020/21 crush of 2.141 billion bushels. The 2022/23 soybean crush will increase to 2.255 billion bushels.