Soybean processing in the US rose 16% in April compared to April 2017. The largest volume of April in US history has been processed, the oilseed federation NOPA yesterday told the press.
Soybean oil stocks are currently at their highest level in nearly five years.
The NOPA members process 95% of all US soybeans. They lost 161.016 million bushels of soybeans last month, slightly less than the March amount of 171.858 million bushels, but much more than the 139.134 million bushels in April 2017.
The previous April record from 2015 was thus exceeded.
In the run-up to the release, market participants had expected a processing volume of 160.966 million bushels in a Reuters poll. The processing margins are currently satisfactorily high for the mills.
On April 30, a US $ 2.092 billion soybean oil supply was detected in the US. In March, it was still 1.946 billion pounds. This is the largest soybean oil stock since June 2013, says the NOPA.
Soybean meal exports in April reached 946,291 tonnes, exceeding March exports of 878,582 tonnes.In April 2017, the US exported 595,468 tons.
Text: HANSA Derivatives Trading GmbH / Source: NOPA
