March NOPA soybean crush tops expectations
by World Grain Staff
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KANSAS CITY, MISSOURI, U.S. — U.S. soybean futures prices extended April 15 gains in morning trading April 16, following the release by the National Oilseed Processors Association (NOPA) pegging U.S. soybean crush in March at 153.84 million bushels, which was above trade expectations of 146 million bushels. The higher actual total indicated stronger-than-expected demand for soybeans to crush for soybean meal and oil.
Soybean futures prices were trading at their highest level in more than eight months early on April 16.
March soybean oil stocks reported by NOPA were 2.023 billion lbs, also above expectations of 1.92 billion lbs.
March NOPA soybean meal exports of 798,883 tonnes were up from February, when 714,231 tonnes were exported.