US soybean processing continues to hold at highs
According to the US National Soybean Trade Organization (NOPA), soybean crushing in the US reached 5.39 million tonnes in September, one of the highest monthly figures and 12% higher than the same month last year.
The US market has recently been experiencing rising domestic demand for soybean oil and record processing volumes due to tariff restrictions on soybean sales to China, supporting producers.
Soybean oil consumption in the US increased sharply in July-September of this year, reaching a new quarterly high of 3.4 million tonnes (3.03 million tonnes in April-June; 3.16 million tonnes a year earlier). In September of this year, soybean oil consumption reached 1.1 million tonnes, slightly lower than in August, but 10% higher than last year.
The association reports that soybean oil inventories in the country have fallen to a nine-month low, reaching only 0.56 million tonnes at the end of September.
It was previously reported that global vegetable oil imports will increase by more than 3 million tons in the 2025/26 season, thanks to growing demand from the biodiesel industry. Experts cite US energy policy as the key driver.
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