US Soybean Crush Demand Stays Strong as Corn for Ethanol Use Continues

The US soybean crush demand remains strong, driven by bullish margins as producers try to meet expected product demand. According to the USDA, 222 million bushels of beans were crushed in July, surpassing pre-report estimates and increasing by 4 million from June and 17 million from last year.

This rise in production pushed soybean oil stocks above analysts' projections and soybean meal stocks larger than a year ago. Meanwhile, corn for ethanol use continues to account for a significant portion of domestic corn usage, with 474.741 million bushels used in July 2026, a 2% increase from June and 4% from last year.

The production of distillers dried grains with solubles (DDGS) also saw an uptick, reaching 1,853,111 tons, a 2% rise from the previous month but 1% less than last year. The USDA has updated its soybean crush and corn for ethanol use estimates to be released on September 11th.