U.S. Soybean Crushings Steady in August

 

The National Oilseed Processor Association (NOPA) issued August soybean crush and stocks data on Monday, September 16. According to the data, NOPA member soybean processing was slightly lower from July but set another record for the month at 4.574 million tonnes. Cumulative October-August NOPA crush is now running 0.8% above last year. This points to another likely increase for the soybean crush will be coming from the U.S. Department of Agriculture (USDA) in the October World Agricultural Supply and Demand Estimates (WASDE).

 

According to analysts’ expectations published by Reuters, the trade was looking for crush to come in near 4.409 million tonnes with the highest guess slightly above the actual at 4.599 million tonnes. While the trade was looking for a modest setback in processing as many analysts believed that July processing surged to make up for earlier unplanned downtime, August was expected to see a seasonal slowdown in processing as slipping crush margins and annual maintenance were seen as reducing run rates.