July 14, according to media reports, before the release of the National Oilseed Processors Association (NOPA) report next Monday, analysts expect that the U.S. soybean crush may slow down in June due to seasonal maintenance and inspections at processing plants.
The June 2023 soybean crush is expected to be 170.568 million bushels, the average of eight analysts’ forecasts. If this estimate is realized, it would be down 4.1 percent from May’s 177.915 million bushels and up 3.6 percent from June 2022’s 164.677 million bushels.
The average daily crush is forecast at 5.686 million bushels, down from May’s 5.739 million bushels and the lowest since last September. More processors plan to shut down operations in June for seasonal maintenance ahead of the 2023 U.S. soybean harvest.
Analysts said some factories were unable to resume production as planned due to mechanical problems or other problems, further weakening monthly crush volumes.
Estimates for the June 2023 soybean crush range from 165.580 to 172.763 million bushels, with a median estimate of 171.400 million bushels.
Soybean oil inventories held by NOPA members are estimated at 1.816 billion pounds as of June 30.
