Soybean crushing hits record 204M bushels in May

In Washington, Brownfield Ag News reports USDA data shows May saw record soybean crushing for the month at 204 million bushels, up from just 12 million in May 2024. Soybean demand rose on the expectation of growing biodiesel demand, but even so oil stocks were down on the month and the year. Corn consumption for ethanol fell 1% on the year to 449.438 million bushels but was 6% higher than April. Ethanol demand is seen strengthening going into the summer driving months.