Monday, 16 March 2015 21:27
CHICAGO: US processors crushed 3.8 percent more bushels of soybeans in February than a year earlier as export demand for soymeal remained robust, a trade group said on Monday.
The National Oilseed Processors Association (NOPA) said that U.S. members crushed 146.970 million bushels of soybeans during February, compared with 141.612 million a year earlier.
Analysts had been expecting the February crush to hit 148.537 million bushels, based on the average of estimates in a Reuters poll. Forecasts ranged from 143.2 million to 160.5 million, with a median of 147 million.
The January soybean crush was 162.675 million bushels.
Processors produced 3.478 million tons of soymeal during February. The group’s soymeal exports totaled 791,532 tons during the month, up 10.8 percent from 714,231 tons in February 2014.
NOPA said soyoil stocks rose to 1.322 billion lbs from 1.228 billion lbs in January. Analysts had expected soyoil stocks at 1.332 billion lbs. Stocks were 1.893 billion a year ago.
NOPA is the largest U.S. trade group for oilseed crushers.
Copyright Reuters, 2015
