Mike Pearson takes a look at how soybean crushers are making an impact on soybean demand.
According to new date released this month, the National Oilseed Producers Association shows a strong month.
In September, over 197.9 million bushels of soybeans were sold hwich exceeded expectations by 11 million and was nearly a 12 percent jump from September 2024. It was also up 4.2 percent in August.
Soybean oil stocks ended the month at 1.24 billion pounds-- almost unchanged from August but 17 percent higher than a year ago.
That modest month to month change shows crushers kept the downstream demand steady.
And that demand has been growing for two decades.
The output from soybean crushers has risen almost every year since 2021.
As things have expanded, it has been created by livestock feed demand, food production and more recently the biofuels industry.
The demand has been made larger by renewable diesel production.
As more soybeans are directed towards fuel use, the U.S. had decided it's need for imported vegetable oil.
Palm and canola oil imports have slowed past over past two years.
Soybean oil exports have increased modestly especially in Latin America.
Historically, soybean crushers tend to stay strong until the end of fall.
With mode demand from soybeans being used in biofuels, soybean crushers may have more demand past December.
Farm Progress America is a daily look at key issues in agriculture. It is produced and presented by Mike Pearson, farm broadcaster and host of This Week in Agribusiness.