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The National Oilseed Processors Association (NOPA) reported on Monday that US soybean processing and inspection operations declined in May, coming in below most market expectations, with the daily processing rate reaching its lowest level since last September.
According to the report, Association members — who represent virtually all US soybean processing operations — crushed the equivalent of 208.785 million bushels last month. This figure represents a 1.4% decline compared to April's 211.856 million bushels, but remains 8.3% higher than the 192.829 million bushels processed in May 2025.
The daily crush rate settled at 6.735 million bushels, the lowest in eight months. A survey of ten analysts had pointed to a May crush of 216.015 million bushels, with estimates ranging from 207.280 million to 223.100 million bushels and a median forecast of 216.400 million bushels.
Analysts noted that soybean processors had temporarily shut down crushing facilities and plants since April for seasonal maintenance and repair work, following several months of record or near-record processing rates.
Meanwhile, soybean oil stocks held by Association members fell to 1.735 billion pounds as of May 31, the lowest inventory level in five months. Stocks declined 12.0% compared to the end of April, which the Association revised to 1.971 billion pounds from a previously reported 1.947 billion pounds.
Source: Investing.com
