August soybean domestic crush lightly misses the mark.

USDA reported August soybean crush at 167.6 million bushels. This was on the trade expectation. This was -0.9% from last year. This brings the year's activity to 2.287 billion. This is under USDA's most recent view of 2.295. This news is already included in Monday's Grain Stocks report.

With this new year holding 509 million bushels in additional supply we expect the new crop year to see usage 163 million over old crop at 2.450 billion. That would be an aggressive 7% increase.

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