Crush Numbers Confirm Growing Meal Supplies

The National Oilseed Processors Association says members crushed 161 million bushels in April, which is a record amount for the month. The soybean oil stocks of more than 2 billion pounds are higher than expected. Zaner Ag Hedge Group Chief Marketing Strategist Ted Seifried says the strong crush margins will likely continue. “This also means we’re building soybean meal stocks. I think we’re looking at these big NOPA crush numbers being a little bit bearish, because we have the bushels to crush. At some point, demand may not support all this extra meal we’re making. That meal market could get heavy, which is a concern.”