NOPA crush deemed lightly positive.

NOPA's monthly soybean crush report was neutral/lightly positive. At 182.881 million bushels for July it was next to the 182.367 trade expectation. We suggest it was positive at +5.5% from last year. To meet USDA's current whole-year goal August only needs to run +2.1% year/year. That should be just fine with June at +6.4% and August at +5.5%. Assuming August runs +5.0% we'll exceed USDA's current goal very lightly, +5 million bushels.

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