U.S. processors crushed 215.8 million bu. of soybeans in October, smashing the previous record for any month of 204.3 million bu. in December 2023 and topping expectations by 5.2 million bushels. Soybean crush jumped 29.3 million bu. (15.7%) from September and topped year-ago by 14.4 million bu. (7.1%).
During the first two months of 2024-25, soybean crush totaled 402.3 million bu., 26.1 million bu. (6.9%) ahead of the same period last year. Our 2024-25 crush forecast matches USDA’s at 2.410 billion bushels.
Soyoil stocks totaled 1.486 billion lbs., down 15 million lbs. from September and 16 million lbs. less than last year.
