USDA: Soybean crush in February at 5.23 million short tons, slightly less than expected

WASHINGTON, April 6: U.S. soybean crush in March 2022 was 5.23 million short tons (174 million bushels), down from 583 in January 2022, according to the U.S. Department of Agriculture’s monthly oilseed processing report released this month. 10,000 short tons (194 million bushes), but higher than the February 2021 crush of 4.93 million short tons (164 million bushes).

Before the report, analysts on average had expected a soybean crush of 5.257 million short tons, or 175.2 million bushels, in February. Forecast intervals ranged from 173.7 million bushels to 177.0 million bushels, with a median of 175.0 million bushels.

For comparison, the member companies of the National Oilseed Processors Association (NOPA) crushed 165.057 million bushels of soybeans in February, a decrease of 9.4% from the previous month, but an increase of 6.4% year-on-year, the second highest in history. NOPA member companies process about 95% of soybeans in the country.

U.S. soybean crush profits were $3.98 a bushel as of February 24, up 154 ​​percent from a year earlier, according to U.S. Department of Agriculture data.

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.