# Grain Journal | NOPA August U.S. Soybean Crush Below Most Estimates…

> The NOPA data showed U.S. soybean crush fell to an 11-month low in August, at 161.453 million bushels, down 6.8% from July and below nearly all trade estimates. End-of-month soyoil stocks dropped to a nearly six-year low. Benchmark soybean futures fell 1.5% on the day.

- Date: 2023-09-20 · published 2023-09-20T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/34178-grain-journal-nopa-august-u-s-soybean-crush-below-most-estimates
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Weaker crush cuts domestic demand for meal and oil, bearish for soybeans and soymeal, while low soyoil stocks support oil prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-08-14 | [Brazil: Estimates for corn and soybean crop are raised again](https://feedsoft.ai/events/69285-brazil-estimates-for-corn-and-soybean-crop-are-raised-again.md) | +0.2% | +2.1% |
| SOY | 2018-09-28 | [Quarterly grain stocks top most estimates - Brownfield Ag News](https://feedsoft.ai/events/62992-quarterly-grain-stocks-top-most-estimates-brownfield-ag-news.md) | +0.5% | -1.5% |
| SOY | 2024-08-12 | [U.S. grains: Soybeans fall to four-year low on record U.S. crop estimate - Manitoba Co-operator](https://feedsoft.ai/events/10466-u-s-grains-soybeans-fall-to-four-year-low-on-record-u-s-crop-estimate-manitoba.md) | -8.7% | -2.7% |
| SOY | 2021-08-22 | [Pro Farmer Releases National Corn and Soybean Crop Estimates - Pro Farmer](https://feedsoft.ai/events/45407-pro-farmer-releases-national-corn-and-soybean-crop-estimates-pro-farmer.md) | +5.1% | -2.4% |
| SOY | 2018-10-12 | [USDA raises corn, soybean and wheat ending stocks estimates \| 2018-10-12  \| World Grain](https://feedsoft.ai/events/62480-usda-raises-corn-soybean-and-wheat-ending-stocks-estimates-2018-10-12-world.md) | +0.6% | +1.1% |
| SBM | 2023-12-29 | [USDA November soy crush estimated at 199.7 million bushels - Grainews](https://feedsoft.ai/events/32784-usda-november-soy-crush-estimated-at-199-7-million-bushels-grainews.md) | -1.4% | -6.6% |
| SBM | 2017-08-14 | [Brazil: Estimates for corn and soybean crop are raised again](https://feedsoft.ai/events/69285-brazil-estimates-for-corn-and-soybean-crop-are-raised-again.md) | -0.3% | +0.3% |
| SBM | 2025-11-25 | [Grain Journal \| Record Soy Crush Lifts Domestic Demand While Policy…](https://feedsoft.ai/events/22018-grain-journal-record-soy-crush-lifts-domestic-demand-while-policy.md) | -1.5% | -3.8% |

## Sources

- grainjournal.com: https://www.grainjournal.com/article/305122/nopa-august-u-s-soybean-crush-below-most-estimates-at-161-453-million-bushels

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.