US crushes 167.733 million bushels of soybeans in July, second highest monthly total, says Nopa
By Mark WeinraubCHICAGO (Reuters) - US soybean processors crushed a higher-than-expected oilseed volume in July to 167.733 million bushels, ...
By Mark WeinraubCHICAGO (Reuters) - US soybean processors crushed a higher-than-expected oilseed volume in July to 167.733 million bushels, its second-highest monthly total in the historic series, said the National Oilseed Processors Association (Nopa). , on Wednesday.The strong profit margins stemming from the low cost of soybean acquisition have encouraged processors to increase their crush rate over the past month.Prices for the most active soybean futures contract on the Chicago Stock Exchange averaged $ 8.87 a bushel in July, down 10.9 percent from a year earlier, the lowest average trading price since March 2016. .July processing rose from 159.228 million bushels crushed in June.Analysts had expected to crush 161.745 million bushels, based on an average estimate of nine analysts in a Reuters poll.Survey forecasts ranged from 155 million bushels to 165.4 million bushels.A year ago, processors had crushed 144.718 million bushels in July.The July crush this...
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