U.S. soybean crush profits 88% higher in week 11 of 2022 than a year earlier

WASHINGTON, March 20: The U.S. Department of Agriculture’s weekly crush report showed that the U.S. soybean crush profit decreased by 8.96% last week compared with a week ago, but increased by 88.00% compared with the same period last year.

For the week ended March 18, 2022, U.S. soybean crush profits were $3.76 per bush, compared with $4.13 per bush a week earlier and $2.00 per bush a year earlier.

Crude soybean oil trucks in central Illinois were quoted at 74.62 cents a pound, compared with 78.70 cents a pound a week ago and 58.97 cents a year earlier.

Spot prices for 48% protein soybean meal at soybean processing plants in Central Illinois were $496.50 a short ton, compared with $494.10 a short ton a week ago and $406.60 a short ton a year earlier.

In the same period, the price of No. 1 yellow soybean was $16.65/bu, $16.71/bu a week ago, and $14.46/bu in the same period last year.