Soybeans: NOPA members processed record levels in August

The oil mills in the United States processed 158.885 million bushels of soybeans in August. The value is below market expectations, but it is the largest amount ever processed in August. This is reported by the oilseeds association NOPA today to the press.
The August result is lower than the 167.733 million bushels processed in July. Analysts expected a volume of 163.870 million bushels. This shows a survey of the news service Reuters among eight analysts. The estimates were between 160,000 and 167,500 million bushels.
The largest amount ever processed in August was 142.424 million bushels. That was in August 2017. NOPA members account for 95% of total soybean processing in the United States.
Soybean oil stocks fell to 1.623 billion pounds as of 31st August versus 1.764 billion pounds in July. Analysts expected an average of 1.762 billion pounds. Soybean meal exports rose to 761,899 tonnes in August (July: 737,465 million tonnes), according to the NOPA.

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