NOPA Crush Report: May Soybean Crush Reaches 208.785 Million Bushels

June 17, 2026

GAPS-Global

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The National Oilseed Processors Association (NOPA) has revealed that in May 2026, U.S. soybean crush volume dropped to 208.785 million bushels—a 1.45% decline from April. This figure also fell short of the projected 216.0 million bushels expected by analysts. Despite this, the May crush volume represents an 8.27% year-on-year increase, showcasing growing momentum in the industry. Contributing to this growth is the surging demand for vegetable oils driven by the biofuel sector, which has led to significant investments in U.S. soybean crushing capacity. The USDA supports this trend, projecting a continued rise in soybean crush volumes for both the 2025/26 and 2026/27 marketing years. Meanwhile, processing margins have shown steady improvement, reaching $5.64 per bushel in May. These dynamics indicate a robust, albeit fluctuating, growth trajectory for the U.S. soybean industry.

The National Oilseed Processors Association (NOPA) released its monthly data on Monday, indicating that U.S. soybean crush volume in May fell short of market expectations.

Per the report, NOPA member facilities crushed 208.785 million bushels of soybeans in May 2026. This marked a 1.45% decline from April’s figure of 211.856 million bushels, yet represented an 8.27% year-on-year increase compared with the 192.829 million bushels recorded in May last year.

Prior to the report’s release, analysts had projected May soybean crush at 216.0 million bushels.

Driven by surging demand for vegetable oil from U.S. biofuel manufacturers, the nation’s soybean crushing capacity has expanded dramatically. Multiple processors have launched new crushing plants or expanded existing facilities. NOPA accounts for more than 99% of total U.S. soybean processing capacity.

Crush margin calculations based on USDA data showed the soybean processing margin stood at $5.64 per bushel at the end of May 2026, up from $5.28 per bushel at the end of April. For reference, the average crush margin hit $2.46 per bushel in the 2025 marketing year, edging up from $2.44 per bushel in 2024.

In its June Supply and Demand Report, the United States Department of Agriculture (USDA) projected U.S. soybean crush for the 2025/26 marketing year at 2.65 billion bushels. The agency raised the forecast by 20 million bushels versus its May estimate, reflecting a year-on-year rise of 205 million bushels, or 8.38%. For the 2026/27 marketing year, soybean crush is forecast to climb further to 2.75 billion bushels, a year-on-year gain of 100 million bushels, equivalent to a 3.78% increase.

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NOPA Crush Report: May Soybean Crush Reaches 208.785 Million Bushels