Big SBO yield offsets slightly less than expected soybean crush. No surprises seen this month. NOPA’s May crush of 171.1 million bushels was up 1.3 million from April, 0.5 million below trade expectations, and compares to 163.5 million year earlier. The daily crush rate was down 2.5% from April and up 4.6% from a year ago. Soybean oil stocks fell 40 million pounds from end of April but were near expectations. NOPA posted a record 12.0 pounds per bushel soybean oil yield for the month of May, behind 11.92 posted May 2013, and May 2022 soybean oil production was 2.053 billion pounds and ranks 12th for all time SBO produced for any month. The May soybean meal yield increased to 47.13 from 47.07 for April.
PDF attached
Terry Reilly
Senior Commodity Analyst – Grain and Oilseeds
Futures International
One Lincoln Center
18 W 140 Butterfield Rd.
Oakbrook Terrace, Il. 60181
W: 312.604.1366
ICE IM: treilly1
Skype: fi.treilly
Trading of futures, options, swaps and other derivatives is risky and is not suitable for all persons. All of these investment products are leveraged, and you can lose more than your initial deposit. Each investment product is offered only to and from jurisdictions where solicitation and sale are lawful, and in accordance with applicable laws and regulations in such jurisdiction. The information provided here should not be relied upon as a substitute for independent research before making your investment decisions. Futures International, LLC is merely providing this information for your general information and the information does not take into account any particular individual’s investment objectives, financial situation, or needs. All investors should obtain advice based on their unique situation before making any investment decision. The contents of this communication and any attachments are for informational purposes only and under no circumstances should they be construed as an offer to buy or sell, or a solicitation to buy or sell any future, option, swap or other derivative. The sources for the information and any opinions in this communication are believed to be reliable, but Futures International, LLC does not warrant or guarantee the accuracy of such information or opinions. Futures International, LLC and its principals and employees may take positions different from any positions described in this communication. Past results are not necessarily indicative of future results.
Crush-est-FI061522.pdf