Data released today from the National Oilseed Processors Association (NOPA) showed a total of 221.56 million bushels (mbu) of soybeans crushed in January, exceeding estimates. That was 10.57% above last year, but down 1.52% from last month.
According to the Iowa Soybean Association, soybeans are almost never used whole but are instead "crushed" to produce soybean meal and soybean oil. Approximately 80% of the crushed bean results in soybean meal, which is used for protein content in livestock feed, and hulls. The other 20% is soybean oil, which is primarily used for human consumption and biofuels.
