Members of the National Oilseed Processors Association (NOPA) crushed 154.498 million bu. of soybeans last month, which was 4.232 million bu. lighter than anticipated but still a record for the month. February’s crush dropped 10.0% from January, in part due to the shorter number of days.
Soyoil stocks at the end of February climbed to 1.752 billion lbs., which was higher than anticipated and a 13.1% rise from the month prior. This marked the highest stocks figure in seven months and suggests lighter domestic usage.
We have heard some talk that canola is working its way back into food applications amid rising margins.