US soybean processing volume hits record high

According to monthly data from the National Oilseed Processors Association (NOPA) released Tuesday, U.S. soybean crushing volume in January reached a record high for the first month of the year, and soybean oil stocks rose to their highest level since April 2023.

NOPA members, which account for approximately 99% of all soybeans crushed in the United States, crushed 221.564 million bushels of soybeans last month, up 10.6% from 200.383 million bushels a year earlier. Analysts said overall crushing volume in January was down 1.5% from the 224.991 million bushels crushed in December 2025, as severe weather disrupted some mills last month.

The expansion of soybean crushing capacity in the United States has led to increased crushing volumes in recent years, as some mills built new plants and others expanded existing ones to meet growing demand for vegetable oil from biofuel producers. Mills also increased their crushing rates following a record U.S. harvest last fall.

According to 10 analysts polled by Reuters, crushing volume last month was expected to be 218.52 million bushels. Their estimates ranged from 211.17 million to 226.00 million bushels, with a median of 219.50 million bushels.

Soybean oil inventories held by NOPA members as of January 31 rose to 1.9 billion pounds, up 15.7% from 1.642 billion pounds at the end of December and 49.1% from 1.274 billion pounds a year earlier.

Seven analysts, on average, expected inventories to rise to 1.71 billion pounds. Estimates ranged from 1.60 to 1.83 billion pounds, with the median being 1.71 billion pounds.

IC UAC according to ukragroconsult