# April soybean crush well below expectations - McKeany-Flavell

> NOPA reported April soybean crush about 5% below average analyst expectations, though still above 2018 and 2019 levels and below last year's April record. Soybean meal exports fell to the lowest monthly volume since June 2019, while soybean oil stocks were notably lower year over year.

- Date: 2021-05-26 · published 2021-05-26T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/47159-april-soybean-crush-well-below-expectations-mckeany-flavell
- Commodities: [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A softer crush reduces meal and oil output, which is bullish for meal prices and supportive for soybean oil given tight stocks. Lower meal exports leave more meal domestically for feed buyers.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2020-10-16 | [September soybean crush sets record for month - McKeany-Flavell](https://feedsoft.ai/events/50713-september-soybean-crush-sets-record-for-month-mckeany-flavell.md) | +2.8% | +4.3% |
| SBM | 2019-01-16 | [December soybean crush up 3 percent from last year - McKeany-Flavell](https://feedsoft.ai/events/61192-december-soybean-crush-up-3-percent-from-last-year-mckeany-flavell.md) | +1.2% | +0.3% |
| SBM | 2019-09-30 | [Corn and Soybean Stocks Come In Below Trade Expectations \| Red River Farm Network](https://feedsoft.ai/events/57013-corn-and-soybean-stocks-come-in-below-trade-expectations-red-river-farm-network.md) | +3.1% | +4.6% |
| SBM | 2023-07-28 | [NOPA shows tighter soybean oil stocks - McKeany-Flavell](https://feedsoft.ai/events/10706-nopa-shows-tighter-soybean-oil-stocks-mckeany-flavell.md) | -2.3% | -8.1% |
| SBM | 2022-06-30 | [Soybeans rebound after USDA pegs U.S. acres below expectations \| Financial Post](https://feedsoft.ai/events/40972-soybeans-rebound-after-usda-pegs-u-s-acres-below-expectations-financial-post.md) | -0.8% | +4.4% |
| SBO | 2020-10-16 | [September soybean crush sets record for month - McKeany-Flavell](https://feedsoft.ai/events/50713-september-soybean-crush-sets-record-for-month-mckeany-flavell.md) | +1.6% | +11.7% |
| SBO | 2018-09-12 | [USDA forecasts soybean crush to keep growing - McKeany-Flavell](https://feedsoft.ai/events/63103-usda-forecasts-soybean-crush-to-keep-growing-mckeany-flavell.md) | -2.2% | +4.5% |
| SBO | 2019-01-16 | [December soybean crush up 3 percent from last year - McKeany-Flavell](https://feedsoft.ai/events/61192-december-soybean-crush-up-3-percent-from-last-year-mckeany-flavell.md) | +4.0% | +6.2% |

## Sources

- mckeany-flavell.com: https://www.mckeany-flavell.com/april-soybean-crush-well-below-expectations-05-26-21/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.