US soybean processing volume hits record in October
According to NOPA, in October thevolume of soybean processing in the United States reached a record 5.44 million tons, 0.6 million tons more than in the previous month (+5% vs. October 2023).
Soybean oil stocks in the country increased to 690,000 tons during the month (+2% from a year earlier)
Thus, since the beginning of MY 2024/25, soybean processing volume has reached a new high of 10.8 million tons (+5% vs. September-October MY 2023/24 levels).
According to USDA estimates, soybean production in the United States will be 124.9 million tons in the current season.
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