NOPA releases higher-than-expected June soybean crush, still at 9-month low
Foreign media July 17 news: The monthly crush report released by the National Oilseed Processors Association (NOPA) on Friday showed that soybean crush in June was higher than market expectations, but still the lowest in nine months, as some The processing plant is temporarily shut down for maintenance.
NOPA reported that soybean crush at the association’s member companies was 164.677 million bushes in June, down 3.7 percent from 171.007 million bushes in May, but up 8.0 percent from 152.41 million bushes in June 2021.
Before the report, analysts on average expected a crush of 164.48 million bushels, down 3.9% from the previous month. The forecast range is 160.7 million bushels to 168.15 million bushels, with a median of 165 million bushels.
The June crush is the usual low for the year, as the supply of aged beans is tight and many processing plants are out of service seasonally. The soybeans processed by NOPA member companies account for about 95% of the country’s total.
U.S. soybean crush profit was $3.02 per bushel in the week ended July 1, up 12.27 percent from the same period last year, according to the U.S. Department of Agriculture.
The USDA forecast in its July supply and demand report that the 2021/22 U.S. soybean crush will be 2.205 billion bushels, down 10 million bushels from the previous month and up 3.0% from the previous year. The 2022/23 soybean crush is forecast at 2.245 billion bushels, also down 10 million bushels from last month’s forecast.