PIXABAY
The U.S. soybean monthly crush plunged to an 17-month low in February due to the country's cold snap, market sources told S&P Global Platts March 16.
S&P reports that most U.S. crushing sites were closed in mid-February as consumer demand for natural gas feedstocks spiked amid the severe weather, the sources said.
The National Oilseed Processors Association (NOPA) reported March 15 that the February crush stood at 155.158 million bushels, down 6% year-on-year and well below the average of analysts' estimates at 168.61 million bushels.
U.S. soybean oil stocks were also reported at 10% lower on the year at 1.757 billion pounds in February, NOPA said. The average of analysts' estimates was 1.839 billion pounds.
