The U.S. is set to see its largest soybean carry in more than 15 years.
It comes at a time when crush will likely outpace exports but uncertainty remains about the future of sustainable fuels.
The most recent USDA forecast for the 2024-2025 soybeans supply is 4.5 billion bushels. Exports are predicted at nearly 1.9 billion bushels. Crush is expected to take up 2.4 billion bushels, an all-time high. Ending stocks are looking to be around 435 million bushels, which would be the largest U.S. bean carryout since the 2006-2007 crop year.
The growth in crush capacity comes as more focus is put on biofuel growth, but that growth could be in jeopardy as the White House prepares to adjust modeling for corn-based ethanol.
EPA Administrator Michael Regan will join Ag Secretary Tom Vilsack at next month’s Commodity Classic where he is expected to make that announcement.
