The National Oilseed Processors Association (NOPA) reported the June US soybean crush to be 1.4 percent below the May crush, but 3.1 percent over analyst expectations. Soybean oil stocks continued to move lower after reaching a seven-year high of 2.11 billion pounds in April. NOPA members crushed 167,263 million bushels of soybeans in June, down from 169,584 million in April. The June crush was 12 percent over the 148,873 crushed during June of 2019. Soybean meal exports climbed 7.6 percent to 835,403 tons in June and are 9 percent over last years pace.
Soybean oil stocks of 1.778 billion pounds were down 5.4 percent from May and two percent below ananlyst expectations. Soybean oil supplies fell 102 million pounds from May and were 35 million pounds below the average estimate of 1.813 million for June.
Cumulative bushels crushed by NOPA…
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