US soybean crush breaks record, surpasses estimates at 195m bu: NOPA

US crushers processed the largest monthly volume of soybeans on record in December, driving soyoil stocks higher, estimates from the National Oilseed Processors Association (NOPA) showed Tuesday.

NOPA members, which handle about 95% of all soybeans crushed in the country, were estimated to have processed 195.3 million bushels (bu) of soybeans in December.

This is a record for any month and represents a 3% uptick from November’s figures and a 10% yearly jump.

NOPA’s estimates also landed above market expectations that had pegged December’s crush level at 193.1 million bu.

The report had a bearish tone for soyoil prices as higher-than-expected crush led to an increase in soyoil stocks at processing plants, estimated at 1.36 billion lb by the end of the month, against market expectations of 1.29 billion lb.

Front-month CME soyoil futures dropped about 0.6% in the 30 minutes that followed the release as a result.