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The April NOPA crush report showed 185.8 million bushels of soybeans crushed in March 2023, 2.4 million above expectations and a record March rate. Cumulative 2022/23 crush reached 1,306 million bushels, just 5 million behind last year's pace, and USDA projects a full-year crush of 2,220 million bushels.
Record crush rates support meal output and demand for soybeans, and projected strong crushing keeps meal supplies ample while crush margins near $1.50 per bushel sustain processing activity.
decision-innovation.comDIS TeamMay 1, 2023After 414 past bullish report events, Soybean Meal moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% over 20.
After 747 past bullish report events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.1%), and +0.8% over 20.
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.
