US February soybean crush, stocks fall below estimates: NOPA

US monthly soybean crushing levels for February came in at 165.4 million bushels, landing slightly below market expectations but still slightly higher year-on-year, according to estimates from the National Oilseed Processors Association (NOPA) released Wednesday.

The daily average processing pace for February 2023, however, resulted in the highest on record for the second month of the year.

Prior to the report, market analysts estimated soybean crushing levels at 166.1 million bushels, while the January figures were reported at 179 million bushels and February 2022 at 165.1 million bushels.

Soyoil supplies among NOPA members as of February 28 declined to 1.809 billion pounds (lbs), down 1% from January and 12% from a year-ago.

Soyoil stocks for the month also landed below market expections set at around 1.886 billion lbs before the report's release.

NOPA members account for around 95% of soybeans processed in the US.