May was another strong month for the domestic soybean crush.
The USDA says 204 million bushels of beans were crushed for meal and oil production, a record for the month, rising 2 million bushels from April and 12 million from May 2024.
The big driver for the crush continues to be soybean oil demand expectations.
Bean oil stocks were down on both the month and the year, but bean meal stocks were up.
Corn for ethanol use was mixed during May.
The USDA says 449.438 million bushels of corn were used for fuel alcohol production, 6% more than April, but 1% less than May 2024.
The industry continues to expect solid consumer demand, but there’s some uncertainty about federal policy and margins have tightened for some producers.
Production of distillers dried grains with solubles was 1,776,391 tons, 9% higher than the month before, but 11% lower than last year.
The USDA’s updated soybean crush and corn for ethanol use projections are out July 11th.
