Walter Cronin, White River’s President & Co-Founder, provides market commentary in his latest Market Report.
December 17, 2024
The National Oilseeds Processing Association (NOPA), the trade organization for the U.S. soybean processing association, issued its November production statistics yesterday. The sequential (since September 2024) record monthly crush rate and record (by far) November soybean oil yield led to the lowest monthly stocks of soybean oil for the month of November in 10 years (throwing out 2014’s stocks number would lead to the lowest stocks for the month of November in 20 years).
Wait. What? Record crush, record yield, and oil inventories not growing? Correct.
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