The National Oilseed Processors Association (NOPA) reported the May soybean crush at 177.915 million bushels, 2.7 percent over the 173.232 million bushels crushed during April and four percent above the 171.077 million bushels processed in May 2022. The crush was the largest ever for the month of May, topping last year’s previous record of 171.077 million bushels. Estimates for the crush ranged between 172.85 million to 179.2 million bushels with an average analyst estimates of 175.88 million bushels.

The USDA June 2023 World Agriculture Supply and Demand estimate (WASDE) left the 2022/23 crop season crush estimate unchanged at 2.220 billion bushels. The 2022/23 crush is expected to be 0.73 percent above the 2021/22 crush. Eight months into the current crush season, the 2022/23 crush exceeds the 2021/2022 crush pace by 0.19 percent or 2.7 million bushels.

…