US Jan. soybeans crushed 6.836M tons: USDA

US Jan. soybeans crushed 6.836M tons: USDA

US January Soybean Crush Hits 6.836 Million Tons, Reflecting Mixed Global Oilseed Dynamics

The U.S. Department of Agriculture (USDA) reported that January soybean crush totaled 6.836 million tons, aligning with expectations and underscoring the sector's role in meeting domestic and global demand for soybean meal and oil. This figure, derived from the USDA's Fats & Oils report, highlights the industry's operational resilience amid shifting supply dynamics.

The crush level reflects broader trends in the U.S. soybean market, where the 2025/26 marketing year (MY) supply forecast has been revised downward by 63 million bushels due to reduced beginning stocks and production. U.S. soybean production is now projected at 4.3 billion bushels for MY 2025/26, a decline of 43 million bushels from the prior month's forecast, driven by lower harvested acres despite a modest yield increase to 53.6 bushels per acre.

Globally, oilseed crush activity remains subdued, with the 2025/26 global crush forecast reduced by 1.3 million metric tons to 580.5 million metric tons. This adjustment reflects lower sunflowerseed and cottonseed crush volumes, partially offset by higher rapeseed crush. Meanwhile, global soybean production and stocks have also declined, contributing to tighter market conditions.

Market participants are closely monitoring export commitments, which stand at 35.65 million metric tons as of February 19—a 19% decline year-over-year. This lagging pace, coupled with geopolitical uncertainties and evolving U.S.-China trade relations, has introduced volatility to soybean futures. Prices for November 2026 soybeans, for instance, closed at $11.82 3/4 on March 2, down from intraday highs earlier in the week.

The USDA's upcoming Fats & Oils report, scheduled for release later this week, will provide further clarity on January crush data and its implications for domestic and international markets. For now, the January crush figure underscores the sector's adaptability amid a complex landscape of supply constraints and global demand pressures.

(http://www.ers.usda.gov/topics/crops/soybeans-and-oil-crops/market-outlook): USDA Economic Research Service, Soybeans and Oil Crops - Market Outlook
(https://www.nasdaq.com/articles/soybeans-fading-higher-open-monday-morning): NASDAQ, Soybeans Fading Higher Open on Monday Morning