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US soybean processing hits record high in December, Nopa says

Published Jan 15, 2025

Tridge summary

Record U.S. soybean crushing in December as new mills become operational, with the National Oilseed Processors Association (NOPA) reporting a 6.9% increase from November and a 5.8% increase from the previous year. The monthly record of 206.604 million bushels crushed surpassed the average estimate and the previous record. Soybean processing capacity has increased due to new and expanded plants, with NOPA members projected to crush 2.215 billion bushels in 2024, marking a 4.4% increase from the previous year. Soybean oil stockpiles among NOPA members also reached a high on December 31.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

By Karl Plume CHICAGO (Reuters) - Monthly U.S. soybean crushing in December reached its highest level on record as several new mills came online in recent months, according to data from the National Oilseed Processors Association (NOPA) released on Wednesday. The association’s members, which account for at least 95% of the soybeans processed in the United States, crushed 206.604 million bushels of the oilseed last month, up 6.9% from November’s 193.185 million bushels and up 5.8% from December 2023’s crush of 195.328 million bushels. Last month’s crushing was above the average estimate of 205.498 million bushels in a Reuters poll of eight analysts. Estimates ranged from 202.000 million to 209.500 million bushels, with a median of 205.500 million bushels. December’s crush also surpassed the previous monthly record of 199.943 million bushels in October. Data from two newly opened processing plants in Kansas and North Dakota were included in Wednesday’s report, according to NOPA. ...
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