On October 25, Genscape added three new soybean facilities to its Soybean Processing Monitor Service, increasing the coverage of the U.S. soybean processing capacity to over 33 percent. The additions include Archer Daniels Midland’s (ADM) 125,000 bushels per day (bpd) Fostoria, OH, facility, their 180,000 bpd Lincoln, NE, facility, and Cargill’s 80,000 bpd Wichita, KS, facility. Clients can now leverage proprietary images, history, and status for these facilities in the Soybean Daily Shutdown Summary. This information provides visibility into the market, which can ultimately help anticipate localized or national price shifts.
By monitoring over 33 percent of the U.S. soybean processing capacity, including the National Oilseed Processing Association (NOPA) regional breakdown (image below), Genscape provides insight into trends at a facility-by-facility basis, regionally, and nationally. Genscape's timely monitoring enables the separation of a "normal" processing period from an outage or low operational period for a facility. Normal processing periods are used to represent the entire crushing population while the outage periods are isolated to the impact of a single facility. This creates never-before-seen evaluation capabilities for national crush.
The addition of these three facilities to the Genscape NOPA model will serve to improve the industry-leading NOPA estimates. Genscape has also installed, and is currently calibrating, monitors at the following facilities with plans to incorporate their data into the report by the end of 2017.
- ADM – Quincy, IL (Illinois Region)
- Bunge - Cairo, IL (Illinois Region)
- Bunge – Decatur, AL (Southeast Region)
- Cargill - Gainesville, GA (Southeast Region)
- Cargill - Guntersville, AL (Southeast Region)
- Cargill – Kansas City, MO (Southwest Region)
With the addition of these 10 facilities, Genscape will have a significant independent monitoring presence in all six of the NOPA reporting regions, providing forecasts 12 days ahead of NOPA releases. To learn more about Genscape’s Soybean Crush Report, please click here.