# U.S. Soybean Crush Margins at 2nd Highest Levels Ever

> NOPA reported a record June crush of 159.2 million bushels, just below trade expectations. Crush margins have surged as China's boycott of US soybeans pushed beans down more than meal or oil.

- Date: 2018-07-23 · published 2018-07-23T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/64104-u-s-soybean-crush-margins-at-2nd-highest-levels-ever
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Strong crush margins encourage processors to run plants hard, boosting meal and oil output and supporting soybean demand at depressed bean prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-08-20 | [China’s soybean crush margin weakens - McKeany-Flavell](https://feedsoft.ai/events/63602-china-s-soybean-crush-margin-weakens-mckeany-flavell.md) | -4.5% | -6.6% |
| SOY | 2023-04-05 | [China's soybean demand likely to remain soft until May amid poor crush margins](https://feedsoft.ai/events/36386-china-s-soybean-demand-likely-to-remain-soft-until-may-amid-poor-crush-margins.md) | -0.9% | -4.6% |
| SOY | 2018-12-27 | [As trade war crushes China's soybean mills, U.S. rivals make hay](https://feedsoft.ai/events/61545-as-trade-war-crushes-china-s-soybean-mills-u-s-rivals-make-hay.md) | +3.5% | +6.4% |
| SOY | 2022-08-08 | [China's July Soybean Imports Slide Amid Poor Crush Margins, Weaker Demand \| Checkout](https://feedsoft.ai/events/14910-china-s-july-soybean-imports-slide-amid-poor-crush-margins-weaker-demand.md) | +3.4% | -6.5% |
| SOY | 2020-11-23 | [China crushers wash out US soybeans amid tight margins: trade - Fastmarkets](https://feedsoft.ai/events/50234-china-crushers-wash-out-us-soybeans-amid-tight-margins-trade-fastmarkets.md) | -1.1% | +5.3% |
| SBM | 2018-08-20 | [China’s soybean crush margin weakens - McKeany-Flavell](https://feedsoft.ai/events/63602-china-s-soybean-crush-margin-weakens-mckeany-flavell.md) | -5.3% | -8.2% |
| SBM | 2023-04-05 | [China's soybean demand likely to remain soft until May amid poor crush margins](https://feedsoft.ai/events/36386-china-s-soybean-demand-likely-to-remain-soft-until-may-amid-poor-crush-margins.md) | +0.2% | -6.0% |
| SBM | 2026-09-07 | [Ahead of Xi's US visit, China's soybean crushers face high costs, weak margins \| Reuters](https://feedsoft.ai/events/17463-ahead-of-xi-s-us-visit-china-s-soybean-crushers-face-high-costs-weak-margins.md) | +0.8% | +0.7% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/fundamentally-speaking/blog-post/2018/07/23/u-s-soybean-crush-margins-2nd-levels

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