US soybean crush rises to all-time high at 189.8 million bu: NOPA

The US monthly soybean crushing level landed above expectations and at an all-time high for any month in October at 189.8 million bushels, estimates from the National Oilseed Processors Association (NOPA) showed Wednesday.

NOPA’s October soybean figure landed 15% above September’s level and 3% higher than in October 2022.

Before the report, the market estimated NOPA members, which handle about 95% of all soybeans processed in the US, would show 187.2 million bushels crushed in October.

Soybean oil stocks among NOPA members fell to 1.099 billion pounds (lbs), below the average analyst estimate of 1.188 billion lbs, and was the sixth straight monthly fall in oil stocks.