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Soybean crush, corn for ethanol use down on month
The U.S. soybean crush was down in August.
The USDA says 168 million bushels of soybeans were crushed during August 2024, falling 25 million from July and 1 million from August 2023.
Those declines were due to some plants performing seasonal maintenance ahead of new crop being more widely available.
That decrease in the crush pulled soybean meal and oil production lower, and while soybean oil stocks tightened, the soybean meal grew, reflecting demand differences.
Soybean crush margins remain positive.
U.S. ethanol production during August was mixed.
The USDA says 472.697 million bushels of corn were used for fuel alcohol production, down 2% on the month because of the start of seasonal maintenance. However, that was up 7% on the year thanks to favorable margins and lower corn prices.
Production of distillers dried grains with solubles was 1,997,750 tons, slightly lower than July, but 10% higher than August 2023.
The USDA’s updated corn for ethanol use and soybean crush projections are out October 11th.
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