NOPA March Crush Tops Expectations
A monthly crush report released April 17 by the National Oilseed Processors’ Association (NOPA) indicates U.S. soybean crushers boosted their operations a bit more than expected during March.
NOPA pegged its members’ March crush at 142.852 million bushels, compared with trade estimates ranging from 139.5-142 million bushels.
The NOPA crush figure was up 9.9% from the February level of 129.994 million bushels and 9% from the year-earlier crush of 131.116 million bushels.
The NOPA report also showed soyoil stocks continuing to rise in part due to continued strong soyoil yields.
NOPA soyoil stocks were reported at 2.393 billion lbs., up from 2.316 billion lbs. a month earlier and 1.248 billion lbs. a year earlier.
The average soyoil yield was put at 11.79 lbs./bu., up from 11.76 lbs. in February and 11.43 lbs. a year earlier.
Editors note: Richard Brock, The Corn and Soybean Digest's Marketing Editor, is president of Brock Associates, a farm market advisory firm, and publisher of The Brock Report.
To see more market perspectives, visit Brock's Web site at www.brockreport.com.