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June 2023 Soybean Crush Falls Below Analysts’ Expectations, Oil Stocks at 7-Month Low

The National Oilseed Processors Association (NOPA) reported the June soybean crush at 165.023 million bushels, 7.25 percent below the 177.915 million bushels crushed during May but fractionally above the 164.677 million bushels processed in June 2022. The crush was expected to be the largest ever for the month of June, but fell short of the current record of 167.263 million bushels crushed in June 2020. Estimates for the crush ranged between 165.580 million to 172.763 million bushels with an average analyst estimates of 170.568 million bushels. The June soybean crush dropped to a 9-month low.

The USDA July 2023 World Agriculture…