U.S. soybean crushing volumes in August were 169 million bushels, down 8.6 percent from July and 3.4 percent on the year, the USDA reported on October 2 in its Monthly Fats & Oils report. Lower crush volumes are more common in the summer months since plants typically schedule maintenance ahead of the harvest season.

Crude soybean oil produced in August was 2.01 billion pounds, down eight percent from July and four percent from August 2022. Refined soybean oil production totaled 1.71 billion pounds in August, slipping two percent from the month prior and two percent on the year.

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