National Oilseed Processors Association (NOPA) members crushed 186.2 million bu. of soybeans during February – by far the most ever for the month, exceeding the previous high of 166.3 million bu. in February 2020. The crush pace increased 0.2% from January and was 12.6% above year-ago.
NOPA data implies the full February crush of about 195.5 million bushels. At that level, crush would be on pace to top USDA’s forecast for a record 2.300 billion bushel. Renewable diesel demand continues to use more soyoil than expected. Soyoil exports have picked up recently, too, says NOPA. Soy is converted into biodiesel fuel through a process called “transesterification” among other processes. These eco-friendly biofuels burn cleaner than traditional petroleum-based fuels and help to reduce America’s carbon footprint.
“The world needs more soybeans,” says Mitch Eviston, Founder and CEO of Meristem Crop Performance. “At Meristem, we are helping high-yield soybean growers make the most of every seed they plant to help meet that demand. In the season just past, we saw our REVLINE® HOPPER THROTTLE™ bringing anywhere from four to 12 more bushels per acre to soybean growers.”
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