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USDA June soybean crush seen at 174.4 million bushels

By Julie Ingwersen

CHICAGO, July 29 (Reuters) - The U.S. soybean crush likely totaled 5.233 million short tons in June, or 174.4 million bushels, according to the average forecast of seven analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture (USDA) report.

The June crush would be below the 180.9 million bushels processed in May but up from the 161.7 million bushels crushed in the same month last year. It would also represent the second-largest June crush on record after the 2020 mark of 177.3 million bushels.

Crush estimates ranged from 173.0 million bushels to 175.0 million bushels, with a median of 174.4 million bushels.

The USDA is scheduled to release its monthly fats and oils report at 2 p.m. CDT (1900 GMT) on Monday.

U.S. soyoil stocks at the end of June were seen dropping to a nine-month low of 2.329 billion lbs, based on the average of estimates from four analysts, down from 2.384 billion lbs at the end of May but up from supplies totaling 2.101 billion lbs at the end of June 2021.

Soyoil stocks estimates ranged from 2.300 billion to 2.350 billion lbs, with a median of 2.333 billion lbs.

National Oilseed Processors Association (NOPA) members, which account for around 95% of soybeans processed in the United States, crushed 164.677 million bushels of soybeans in June, down almost 4% from the prior month but up 8% from June 2021. NOPA members' supplies of soyoil as of June 30 fell to 1.767 billion lbs, the smallest end-of-month stocks since September.

(Reporting by Julie Ingwersen Editing by Chris Reese)

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