March NOPA soybean crush tops expectations
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KANSAS CITY — Soybean futures prices extended April 15 gains in morning trading April 16, following Tuesday’s release by the National Oilseed Processors Association (NOPA) pegging domestic soybean crush in March at 153.84 million bus, which was above trade expectations of 146 million bus. The higher actual total indicated stronger-than-expected demand for soybeans to crush for soybean meal and oil.
Soybean futures prices were trading at their highest level in more than eight months early Wednesday.
March soybean oil stocks reported by NOPA were 2.023 billion lbs, also above expectations of 1.92 billion lbs.
March NOPA soybean meal exports of 798,883 tonnes were up from February, when 714,231 tonnes were exported.