Market News & Headlines >> U.S. October Soy Crush Tops Expectations
The full U.S. soybean crush for October was up 21% from September, but was only marginally higher than a year earlier, according to last Friday’s monthly USDA Fats and Oils report.
USDA’s National Agricultural Statistics Service (NASS) reported U.S. oilseed processors crushed 175.91 million bushels of soybeans in October, versus a September crush of 145.37 million and an October 2016 crush of 175.88 million bushels.
The October U.S. crush was slightly above trade expectations, which averaged 174.70 million bushels in a range from 171.0-175.80 million and was 11.7 million bushels or 7.3% larger than the National Oilseed Processors Association member crush for the month.
NASS pegged total U.S. soyoil stocks at 1.626 billion pounds, 5.0% below a month earlier and 9.4% below a year earlier. Soyoil stocks were matched the low end of trade expectations, which averaged 1.650 billion pounds in a range from 1.625-1.690 billion.