NOPA crush report preview: February soybean crush expected to increase 6.4% year-on-year
Foreign media March 13 news: The National Oilseed Processing Industry Association (NOPA) plans to release monthly crush data on Tuesday (March 15) at 11:00 a.m. Central Time (1:00 a.m. Beijing time on Wednesday), analysts expect Soybean crush in February is on track to be the second highest on record for the same period on record, as demand for finished soybean products is strong and the crushing is lucrative.
U.S. soybean crush profits were $3.98 a bushel in the week ended Feb. 24, up 154 percent from a year earlier, U.S. Department of Agriculture data showed.
According to the survey, the soybean crush in February 2022 is expected to be 165.024 million bushes, which is 6.4% higher than the 155.158 million bushes in February 2021, and only lower than the historical record of 166.288 million bushes in February 2020.
For comparison, soybean crush in January 2022 was 1,8221.6 billion bushels.
The soybeans processed by NOPA member companies account for about 95% of the national total.
Analysts’ forecasts ranged from 161.980 million bushels to 169.132 million bushels, with a median of 165.00 million bushels.
The U.S. Department of Agriculture’s March supply and demand report forecast the 2021/22 U.S. soybean crush forecast at 2.215 billion bushels, unchanged from the February forecast and 3.5% higher than the 2020/21 crush of 2.141 billion bushels.