Market News & Headlines >> June Soybean Crush as Expected
Monday’s monthly Fats and Oils report from USDA showed the June U.S. soybean crush down seasonally from May, but virtually right on the average of trade expectations.
USDA pegged the June soybean crush at 4.624 million short tons or 154.13 million bushels, versus trade estimates that averaged 4.626 million short tons or 154.20 million bushels in a range from 153.30-155.40 million.
The monthly crush was down 4.2% from the month-earlier level of 160.87 million bushels (4.826 million short tons), but was up 1.6% from the June 2015 crush of 151.63 million bushels.
June 30 U.S. crude soybean oil stocks were pegged at 2.049 billion pounds, well below trade estimates that averaged 2.450 billion pounds in a range from 2.366-2.490 billion. Soybean oil stocks were down 0.7% from a month earlier, but were still up 15.5% from a year earlier.