July 2023 Soybean Crush Exceeded Average Estimate

The National Oilseed Processors Association (NOPA) reported the July soybean crush at 173.303 million bushels, 5.02 percent over the 165.023 million bushels crushed during June and 1.8 percent above the 170.22 million bushels processed during July 2022. The crush was the largest for the month of July over the past eight years surpassing the prior near-term record of 172.794 million bushels crushed set in July 2020. Estimates for the crush ranged between 165.1 million to 178 million bushels with an average analyst…