WASHINGTON, Sept. 4: U.S. soybean crush rose in July due to strong domestic demand for soybean meal, the U.S. Department of Agriculture’s monthly oilseed processing report showed.
According to the USDA, the United States crushed 5.44 million short tons of soybeans in July, equivalent to 181.335 million bushels, an increase of 4.2% from 174.08 million bushes in June and a 9.0% increase from 166.33 million bushes in July 2021. This was supported by rising soybean meal profits and firm prices in parts of the Midwest.
U.S. soybean meal production in July was 3,984,830 tons, up 3.8% month-on-month and 7.7% year-on-year; soybean meal stocks at the end of July were 476,700 short tons, up 47.1% month-on-month and 7.8% year-on-year.
U.S. crude soybean oil production in July was 2.158 billion pounds, an increase of 4.3% month-on-month and a year-on-year increase of 9.4%; soybean oil (including crude soybean oil and refined soybean oil) stocks at the end of July were 2.228 billion pounds, a month-on-month decrease of 3.8%, but compared with 20.7% in the same period last year. billion pounds, an increase of 7.6%.