U.S. soybean crushing volumes came in at 175 million bushels in June, down one million bushels, or 7.4 percent, on the month, the USDA said today in its Monthly Fats & Oils report. This was up one million bushels, or 0.6 percent, from June 2022, but below an average 175.5 million bushels expected by the market. The June figure was the smallest monthly crush since September 2022. Lower crush volumes are common this time of year, however, since plants typically schedule maintenance before the harvest season begins.

Crude soybean oil produced in June was 2.07 billion pounds, down seven percent from May but up less than one percent from June 2022. Refined soybean oil production totaled 1.73 billion pounds in May, down six percent from the month prior but up five percent on the year.

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