NOPA soybean crush lightly disappoints.

The National Oilseed Processors Association reported January soybean crush at 185.780 million bushels. This would be considered a disappointment vs. the 189.928 estimate. It is still +3.8% year over year though. Our year to date pace, +5.4% year over year, is still over USDA's whole-year guess of +4.0%. If the remainder of the year runs +4% we'll beat USDA's goal by 13 million. A 5% remaining pace makes is 25 million. A 6% pace brings the overage to 37.

Greg McBride additionally noted the January cold snap could have played into some of this. Perhaps we could say, given that factor, this is a positive number.

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