Skip to content
800-884-8290

|

Client Login

|

Open an Account
  • About Us
  • Services
    • Futures & Options Brokerage
    • Organic Grain Swaps
    • Margin Management
    • Commodity Marketing Education
    • Consulting & Insurance
  • Research
    • Dairy
    • Livestock
    • Grain & Oilseeds
    • Ethanol & Biodiesel
  • Account
  • Quotes
  • Contact Us

Soybean Complex Crushing & Stocks Update – Feb ’21

  • February 2, 2021February 2, 2021
  • by Belinda Przybylski

Executive Summary

U.S. soybean crush and stocks figures provided by the USDA were recently updated with values spanning through Dec ’20. Highlights from the updated report include:

  • U.S. soybean crushings increased 4.9% on a YOY basis during Dec ’20, remaining at a record high seasonal level for the fourth consecutive month.
  • U.S. soybean cake & meal stocks remained higher on a YOY basis for the seventh time in the past nine months during Dec ’20, finishing up 4.7%.
  • U.S. soybean oil stocks remained higher on a YOY basis for the 12th time in the past 13 months, finishing up 3.4% and reaching a record high seasonal level.

Additional Report Details

Soybean Crushing – Crush Remains at a Record High Seasonal Level, Finishes up 4.9% YOY

According to the USDA, Dec ’20 U.S. soybean crushings declined 1.8% from the record high level experienced throughout the previous month but remained 4.9% higher on a YOY basis. The YOY increase in soybean crushings was the 12th experienced throughout the past 13 months. Soybean crushings remained at a record high seasonal level for the fourth consecutive month.

Dec ’20 YOY increases in soybean crushings were largest throughout the North Central states of Michigan, Minnesota, North Dakota and South Dakota. The 1.8% month-over-month decline in soybean crushings was a contraseasonal move when compared to the three year average November – December seasonal increase of 0.2%. 2020 annual soybean crushings finished 5.6% higher on a YOY basis, reaching a record high annual level.

Cake & meal accounted for 73.5% of the total soybean crush throughout Dec ’20, up slightly from the previous year, while oil accounted for 17.4% of the total soybean crush, also up slightly from the previous year.

Dec ’20 soybean oil produced as a percentage of total crush declined to a three month low level, finishing below historical average figures for the first time in the past three months.

Soybean Cake & Meal Stocks – Stocks Finish Higher YOY for the Seventh Time in Nine Months, up 4.7%

Dec ’20 U.S. soybean cake & meal stocks declined from the five month high level experienced throughout the previous month but remained 4.7% higher on a YOY basis. The YOY increase in soybean cake & meal stocks was the seventh experienced throughout the past nine months. The month-over-month decline in soybean cake & meal stocks of 13.7% was a contraseasonal move when compared to the three year average November – December seasonal increase in stocks of 18.8%. Despite finishing higher on a YOY basis, Dec ’20 soybean cake & meal stocks remained 13.5% below three year average seasonal levels.

Soybean Oil Stocks – Stocks Remain Higher YOY for the 12th Time in 13 Months, up 3.4%

Dec ’20 U.S. soybean oil stocks increased seasonally to a six month high level while finishing 3.4% higher on a YOY basis. Soybean oil stocks had finished lower on a YOY basis throughout eight consecutive months through Nov ’19 prior to finishing higher throughout 12 of the past 13 months. Soybean oil stocks remained at a record high seasonal level for the second consecutive month. The month-over-month increase in soybean oil stocks of 7.3% was slightly smaller than the three year average November – December seasonal increase of 10.3%. Dec ’20 soybean oil stocks finished 9.9% above three year average seasonal levels, finishing higher for the 12th time in the past 13 months.

Atten Babler Corn & Soybeans FX Indices – Feb ’21
Soybean Complex Price & Value Update – Feb ’21
Dairy
Ethanol
Livestock
Grain

Recent Grain & Oilseeds Research

  • Soybean Complex Crushing & Stocks Update – Mar ’21
  • Soybean Complex Price & Value Update – Mar ’21
  • Atten Babler Corn & Soybeans FX Indices – Mar ’21
  • 2021 Agricultural Outlook Update – Feb ’21
  • Grain & Oilseeds WASDE Update – Feb ’21
Atten Babler Commodities LLC
11406 US Route 20 W
Galena, IL 61036
800-884-8290
Privacy Policy
Futures, options and swaps brokerage is provided through Atten Babler Commodities LLC. The risk of loss in trading commodity futures and options and swaps is substantial. Swaps trading should only be undertaken by investors who are Eligible Contract Participants (ECPs) within the meaning of Section 1a(18) of the Commodity Exchange Act. Before trading, you should carefully consider your financial position to determine if futures, options or swaps trading is appropriate. When trading futures, options or swaps, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results. Atten Babler Commodities LLC use sources that they believe to be reliable, but they cannot warrant the accuracy of any of the data included in this site. Opinions and market data are subject to change at any time. Unless otherwise stated the information contained herein is meant for informational purposes only and is not a solicitation to buy futures or options or swaps.
© Copyright 2021 Atten Babler Commodities LLC