Market News & Headlines >> NOPA Soybean Crush Rises
U.S. soybean processors boosted crushing operations during July, according to data released by the National Oilseed Processors Association (NOPA) through Thompson Reuters on Tuesday.
NOPA said that its members crushed 144.72 million bushels during July, the second biggest July total on record and up from 138.07 million bushels in June and 143.71 million in July 2016. The soybean trade had been expecting a July crush of 143.004 million bushels, with estimated ranging from 141.50-146.00 million, based on a survey of five analysts by Reuters News Service.
July 31 NOPA-member processor stocks of soyoil fell to 1.558 billion pounds from 1.703 billion at the end of June and 1.743 billion at the end of July 2016. The soyoil stocks were at the low end of trade expectations, which averaged 1.623 billion pounds in a range from 1.550-1.690 billion.
USDA will release data on the full U.S. soybean crush for July on Sept. 1.