CHICAGO: The pace of US soybean processing fell below market forecasts during July and came in lower than a year earlier, the National Oilseed Processors Association said on Monday.
NOPA said that its members crushed 143.715 million bushels of soybeans in July, down from 145.050 million during June. In July 2015, the NOPA crush was 145.227 million bushels.
Analysts had been expecting a July crush of 146.729 million bushels. Crush forecasts ranged from 142.643 million to 150.000 million bushels, with a median of 147.500 million bushels.
NOPA said that soymeal exports fell to 579,417 tons in July from 594,710 tons in June. In July 2015, soymeal exports were 590,582 tons.
Soyoil stocks as of July 31 stood at 1.743 billion lbs. Analysts had forecast soyoil stocks of 2.000 billion lbs. Stocks were 1.985 billion lbs a year ago and 1.624 billion at the end of June.
NOPA is the largest US trade group for oilseed processors. It releases crush data on the 15th of each month or the next business day.
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