NOPA CRUSH REPORT: Soybean crush in February in line with market expectations
Foreign media March 16 news: The National Oilseed Processing Industry Association (NOPA) released monthly crush data on Tuesday (March 15) at 11:00 a.m. Central Time (1:00 a.m. Beijing time on Wednesday), according to the US soybean crush in February. Although the crush volume fell month-on-month, it hit the second highest level in the same period in history, second only to February 2020, which was in line with market expectations.
NOPA reported that member companies crushed 165.057 million bushes of soybeans in February, down 9.4% from January’s 182.216 million bushes, but up 6.4% from February 2021’s 155.18 million bushes, just below the February 2020 record for the same period in history 166.288 million bushels.
The soybeans processed by NOPA member companies account for about 95% of the national total.
Before the report, analysts expected soybean crush to be 165.024 million bushels in February, up 6.4 percent from a year earlier. The forecast range is from 161.980 million bushels to 169.132 million bushels, with a median of 165.00 million bushels.
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.
The U.S. Department of Agriculture’s March supply and demand report forecast the 2021/22 U.S. soybean crush forecast to be 2.215 billion bushels, unchanged from the February forecast and 3.5% higher than the 2020/21 crush of 2.141 billion bushels.