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US crushers used 199 million bushels of soybeans in September, down from 210 million in August and 205 million a year earlier, according to USDA data. Crude soybean oil output was 2.31 billion pounds, 6% lower than the prior month.
Reaching the USDA's 2.78 billion bushel forecast requires monthly crush to average 235 million bushels from October through August 2027.
A crush pace below the USDA's required run rate points to less meal and oil supply later, which supports soymeal and soyoil prices and tightens feed protein availability. Soybeans were modestly lower on the day, so the market reaction is limited.
es.marketscreener.comDow JonesNov 3, 2026After 414 past bullish report events, SBM moved a median -0.1% over 5 sessions (48% higher; middle half -2.1% to +2.3%), and +0.3% over 20.
After 296 past bullish report events, SBO moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% over 20.
After 563 past neutral report events, SOY moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
