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US soybean crush margins on the CBOT surged to $3.76/bu on 5 May from $2.11/bu in late February, well above the 2021-25 average of $1.51/bu. Soybean oil and meal gains outpaced soybean futures, and US crushing reached 92% of capacity in March.
Argus expects margins to stay elevated because plant capacity is nearly full.
With crushers near capacity, extra oil and meal output is limited, so strong oil and meal prices keep margins high while soybean prices rise less. Higher energy costs from the Middle East war and biofuel policy support soybean oil demand.
argusmedia.comJoseph Crosby, Ryan KooryMar 25, 2024Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
