The National Oilseed Processors Association (NOPA) reported the US soybean crush in August at 158.008 million bushels and soybean oil stocks at 1.138 billion lb. The monthly crush fell to a 35-month low, and soybean oil stocks reached an 11-month low. The downturn in production was due to processors idling plants for seasonal maintenance and repairs ahead of the upcoming harvest, according to analysts.
The August crush was down by 13.6% from 182.881 million bu in July and down by 2.2% from 161.453 million bu in August 2023. August is typically one of the lighter crush months of the year because many processors idle or lower production as they prepare for the fall harvest.
Analysts’ estimates had pegged crush to be 171.325 million bu, which would have been the largest August crush on record. Instead, it was the lowest crush since September 2021, with only 153.8 million bu crushed.
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