August 26, 2010
US soy crush seen lower in July
The US Census Bureau is expected to estimate the July soy crush at 128.5 million bushels, a modest decline from the prior month, owing to tight availability of supplies for crushing, according to reports.
The Census Bureau's crush report is scheduled for release Thursday (Aug 26) at 8 a.m. EDT, (1200 GMT). The following are the overall results of the survey:
|
　 |
AVERAGE |
RANGE |
June 2010 |
July 2009 |
|
Crush |
128.5 |
127.5-129.0 |
129.2 |
128.8 |
|
Soyoil stocks |
3.528 |
3.500-3.545 |
3.555* |
3.33 |
|
Meal stocks |
350.8 |
310.0-410.0 |
334.9 |
328.4 |
|
*The updated soyoil stocks figure is according to the Census US fats and oils report released July 29. | ||||
The US Census Bureau reports its monthly soy crush in millions of bushels; US soyoil stocks are reported in billions of pounds; and US soymeal stocks are reported in thousands of short tonnes.
In its August 16 report, the National Oilseed Processors Association (NOPA) said the July crush was 124.181 million bushels, down 2.06 million bushels from June. The report includes figures only from member processors.
The daily soy crush rate slowed in July as seasonal down time in the industry and tight soy supplies for crushing translated into a smaller month-over-month crush pace, analysts said. Supplies of soy from the last harvest dwindled because of strong demand and a lack of selling by farmers.
July soymeal stocks are seen increasing to 350,800 short tons, up from the 334,921 tonnes reported for June. The slowdown in the US soymeal export program is seen building supplies, industry participants said.
Soyoil stocks are seen declining to 3.528 billion pounds in the report, down from 3.555 billion the previous month. In the NOPA report, soyoil stocks saw a 9.886 million pound decrease in stocks.
A lower processing pace in July and a pickup in soyoil exports led to a drawdown of soyoil supplies, said analysts.
