US soybean processing volumes in the U.S. declined slightly in January

According to the US National Oilseed Processors Association (NOPA), in January soybean processing volumes in the country reached 5.45 million tons, showing a slight decrease of 169 thousand tons compared to the previous month’s record, although it remains the second highest historical figure (+7.9% compared to January 2024).

In particular, severe winter weather conditions and a surplus of soybean meal supply forced some enterprises to slow down processing rates. There has also been a decline in domestic demand for soybean oil, while soybean oil stocks remain high.

According to USDA’s February report, global soybean processing increased by 1.9 million to 349.3 million tons. World trade in soybean meal increased by more than 300,000 tons to 107.4 million tons.

Tags: soybean oil, soybean, USA