NOPA CRUSH REPORT: March soybean crush hits record high but falls short of expectations

——Increased by 10.1% month-on-month and 2.1% year-on-year

Foreign media, April 17 news: The National Oilseed Processing Industry Association (NOPA) released monthly crush data on Friday (April 15), saying that the US soybean crush in March increased by 10.1% month-on-month and 2.1% year-on-year, and hit a record high. The highest in history for the same period, but lower than industry expectations. NOPA member companies process about 95% of soybeans in the country.

The NOPA report shows that member companies processed 181.759 million bushes of soybeans in March 2022, higher than the 165.057 million bushes in February, and higher than the 177.984 million bushes in March 2021, also exceeding the previous historical record set in March 2020 for the same period. 181.374 million bushels.

Before the report, analysts had expected the soybean crush in March could be the highest on record for the same period on record, as ample supplies of soybeans, strong demand for manufactured goods and lucrative crushing prompted crushers to speed up their crushing ahead of maintenance periods in the coming weeks.

Analysts on average expected March soybean crush to be 181.991 million bushels, with a forecast range of 179.20 million bushels to 186.00 million bushes and a median of 189.1558 million bushes.

U.S. soybean crush profits were $3.81 a bushel in the week ended April 1, up 102 percent from a year earlier, U.S. Department of Agriculture data showed.

The USDA’s April supply and demand report forecast the 2021/22 U.S. soybean crush forecast at 2.215 billion bushels, unchanged from the March forecast and 3.5% higher than the 2020/21 crush of 2.141 billion bushels.