Tidbits
The NOPA August soybean crush was 161.453, 6.35 million bushels less than the market expected. That was an 11-month low and down 6.8% from July and down 2.5% from August of last year, which is not so bad.
The soybean oil stocks in the NOPA report were at 1.25 billion pounds vs. 1.483 billion expected, down 18.2% from July and down 20.1% from a year ago. Get this: the soy oil supplies are at the lowest level since October 2017… that was 6 years ago, Folks.
To learn all about the NOPA, go to: wrightonthemarket.com/post/about-the-nopa
The market continues to think Ukraine will be allowed to ship grain out of its deep-water ports. Therefore, there is talk China will be buying Ukrainian corn.