According to an article by Rob Hatchett, Senior Economist for the American Soybean Association, the National Oilseed Processor Association (NOPA) recorded December soybean crushings at 14.109 million metric tons, up 1.4 percent from the corresponding month in 2018.
The January edition of the World Agricultural Supply and Demand Estimate (WASDE) retrievable under the Statistics Tab, maintained the previous forecast for crushings to rise nearly 1% from the 2018/19 marketing year to 57.288 million metric tons. Expectations for continued strong demand from the U.S. livestock sector is seen as lending support to domestic protein meal demand. A shutdown at one of Argentina’s largest soybean processor since early December is likely providing an unexpected opportunity for U.S. exporters of soybean meal.