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Analysts, on average, had been expecting the July crush to come in at 4.596 million tons, or 153.2 million bushels.
A year ago, the crush totaled 4.673 million tons.
The USDA also reported that soymeal stocks at the end of the month stood at 419,802 tons, up from 281,038 tons in June.
Crude soyoil stocks totaled 1.866 billion pounds at the end of July and refined soyoil stocks came in at 348.5 million pounds.