Soybean Crush Margin over $2.00 – 11/6/2020
The soybean crush margin has improved sharply this fall as bull markets in products have increased processor revenue while the arrival of new crop soybeans held down raw product costs. Favorable margins could boost the 2020/2021 soybean crush level in excess of USDA’s current estimate of 2.18 billion bushels and result in a tighter soybean carryout stocks to usage ratio than anticipated by USDA last month.