According to official data from analysts of the National Association NOPA, the volume of soybean processing in the United States in March rose to its highest value in the last 15 months. It is reported by Nasdaq.
According to experts, during the period under review, about 185.8 million bushels of soybeans were processed at American oil extraction plants against 165.4 million bushels (+12.3%) a month earlier.
“Daily processing volumes began to increase in February and increased significantly in March of this year, as American processors began to emerge from winter downtime due to weather conditions and scheduled maintenance of equipment,” the report said.
According to NOPA, by the end of last month, the supply of soybean oil increased to 1.851 billion pounds against 1.809 billion pounds in February.
A report by the National Association of Oilseed Processors NOPA contains information about 13 member companies of the association, which account for about 95% of the soybean processing market in America.