NOPA on the expectation. Missile attack interests the trade. November 15, 2022
NOPA released its October soybean processing estimate for member plants. The industry organization reported 184.464 million bushels for last month's activity, on the trade expectation. This was +0.3% from one year ago. With two months down of the new marketing year we are at a year to date pace of +1.4%. USDA’s whole-year goal is +1.9%. We don’t see a problem with this early-year pace as the trade expects the second half to hold higher capacity and the hope of a renewable diesel pull.
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