USA: soybean crush hits a new record for the month despite rising soybean prices 16 July, 2020 at 12:07

June soybean crush hit a new record for the given month in the US and was among the factors supporting CBOT soybean futures price during the trading session on Wednesday.

According to National Oilseed Processors Association (NOPA), in June crushers processed 167.26 mln bushels of soybeans. Despite this was a 1.3% contraction m/m, the volume hit all-time high for June.

According to the Reuters poll this number was expected at 162.17 mln bushels as rising soybean prices eroded processors` margins.

By the end of June US soyoil stocks were down 5% m/m at 1.778 bln pounds, which was below market expectations. Along with the crude oil market tendencies, it shed some support to soybean oil futures in Chicago on Wednesday.