Market News & Headlines >> NOPA Soy Crush Above Average of Expectations
The soybean market received fresh indications of strong demand on Monday as the National Oilseed Processors’ Association (NOPA) reported its May crush toward the high end of trade expectations and 5% above a year earlier.
NOPA pegged its members’ May soybean crush at 128.82 million bushels compared with trade expectations that averaged 126.98 million bushels in a range from 120.550 million to 134.793 million, according to data released by Reuters News Service.
The May crush was down 2.9% or 3.85 million bushels from the April crush of 132.67 million, but topped the May 2013 crush by 6.17 million bushels. NOPA reported end-May member soybean stocks at 1.970 billion pounds down from 2.058 billion at the end of May and 2.469 billion a year earlier. The NOPA soyoil stocks were closely in line with trade expectations that averaged 1.977 billion pounds. The stocks were the smallest for the end of May since 2005.