NOPA reported us soybean crushing (Sept) drop 11% year on year at at 107.34 million bushels below trade estimated at 113 million bu. The slow percentage harvested at 23% below from last year at 49% was added to cause of decline in crushing, bean would not available for processor now. On the other hand slow consumption on red-meat and poultry product lead to slow consumption for soy meal by US beef, pork and dairy producer. USDA forecast US red-meat and poultry product may decline by 3.1% this year.
The inventories of soybean oil at ended of Sept increase to 1.03 million tonnes (2.262 billion pounds) up 14% year on year but below trade expect at 2.365 billion pounds.
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