June WASDE forecasts a smaller crush

The latest World Ag Supply & Demand data released on Friday, showed that the USDA was reigning in its forecast on crush expectations.  This had been expected, given the slowing pace of the crush over the past several months.  The USDA trimmed expectations by 15 million bushels.  A smaller crush leads to less soybean oil production.  So, it follows, that soybean oil output is expected to fall.  The USDA…