NOPA Crush Report: May Soybean Crush Reaches 208.785 Million Bushels

June 17, 2026, 4:03 PM

LYDD-Global

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The National Oilseed Processors Association (NOPA) has reported that U.S. soybean crush volumes for May 2026 fell below market expectations, reaching 208.785 million bushels. This marks a 1.45% month-on-month decline from April’s 211.856 million bushels, though it reflects an 8.27% year-on-year increase compared with May 2025’s 192.829 million bushels. Analysts had expected a higher figure of 216 million bushels. The rise in vegetable oil demand from U.S. biofuel manufacturers has prompted significant growth in soybean crushing capacities nationwide. Crush margins saw a slight increase in May 2026, as per USDA data, boosting processors' profitability. Future projections from the USDA indicate continued growth in soybean crush for the 2025/26 and 2026/27 marketing years, driven by robust demand and expanded processing capacities. This trend underscores the pivotal role of soybean processing in meeting U.S. biofuel and agricultural demands.

The National Oilseed Processors Association (NOPA) released its monthly data on Monday, indicating that U.S. soybean crush volume in May fell short of market expectations.

Per the report, NOPA member facilities crushed 208.785 million bushels of soybeans in May 2026. This marked a 1.45% decline from April’s figure of 211.856 million bushels, yet represented an 8.27% year-on-year increase compared with the 192.829 million bushels recorded in May last year.

Prior to the report’s release, analysts had projected May soybean crush at 216.0 million bushels.

Driven by surging demand for vegetable oil from U.S. biofuel manufacturers, the nation’s soybean crushing capacity has expanded dramatically. Multiple processors have launched new crushing plants or expanded existing facilities. NOPA accounts for more than 99% of total U.S. soybean processing capacity.

Crush margin calculations based on USDA data showed the soybean processing margin stood at $5.64 per bushel at the end of May 2026, up from $5.28 per bushel at the end of April. For reference, the average crush margin hit $2.46 per bushel in the 2025 marketing year, edging up from $2.44 per bushel in 2024.

In its June Supply and Demand Report, the United States Department of Agriculture (USDA) projected U.S. soybean crush for the 2025/26 marketing year at 2.65 billion bushels. The agency raised the forecast by 20 million bushels versus its May estimate, reflecting a year-on-year rise of 205 million bushels, or 8.38%. For the 2026/27 marketing year, soybean crush is forecast to climb further to 2.75 billion bushels, a year-on-year gain of 100 million bushels, equivalent to a 3.78% increase.

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