Analyst watching US soybean crush projections

A grain market analyst expects to see higher soybean crush numbers in future USDA supply and demand reports.

Mac Marshall, Vice President of Market Intelligence with the United Soybean Board tells Brownfield several companies have announced plans for new crush facilities that are projected to boost US soybean crush capacity by 30%.

“Announcements are not capacity; capacity is not production or utilization. But, I’d say this is a potentially seismic shift in the domestic soybean industry as we have more and more crush coming online.”

He says an increase in crush could change the supply and demand outlook for soybeans and soybean products.

“How do the production figures change for meal and oil? How is utilization going to be distributed, is that going to look different? Are we going to see more soybeans used in biofuels, which has been a major growth path. What does that utilization look like and what are the implications for the export side of the equation?”

USDA did not make any changes to the US soybean balance sheet in the April report.

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