15.07.2021 (www.nasdaq.com) - By Karl Plume

CHICAGO, July 15 (Reuters) - The U.S. soybean crush fell to a two-year low in June and missed all trade estimates, while soybean oil stocks thinned to the lowest in eight months, according to National Oilseed Processors Association (NOPA) data released on Thursday.

NOPA members, which handle about 95% of all soybeans processed in the United States, crushed a mere 152.410 million bushels of soybeans last month.

That was down 6.8% from the 163.521 million bushels crushed in May and down 8.9% from 167.263 million bushels in June 2020. It was also the smallest monthly tally since June 2019, when processing plants crushed 148.843 million bushels.

The June crush had been expected to slip to 159.483 million bushels, according to the average of estimates from 12 analysts. Estimates ranged from 155.500 million to 163.000 million bushels, with a median of 159.200 million bushels.

Last month's crush was the third largest June crush on record, behind both 2018 and 2020.

Tightening supplies and rising prices for beans prompted processors to schedule needed maintenance downtime, some of it lengthier than normal after COVID-19 pandemic restrictions disrupted that work last summer, analysts said.

The U.S. Department of Agriculture trimmed its 2020/21 marketing year U.S. crush forecast by 5 million bushels on Monday to reflect the recent slowdown in crushing. WASDE09

NOPA said soyoil supplies among its members as of June 30 fell to 1.537 billion lbs, the lowest end-of-month stocks since October and down 8% from the end of May, when stocks stood at 1.671 billion lbs.

Oil stocks were expected to drop to 1.623 billion lbs, based on estimates gathered from nine analysts. Estimates ranged from 1.520 billion to 1.752 billion lbs, with a median of 1.608 billion.

Soymeal exports last month totaled 714,729 tons, versus 714,377 tons in May and 835,403 tons in June 2020, according to NOPA.

(Reporting by Karl Plume)

((karl.plume@thomsonreuters.com; +1 313 484 5285; Reuters Messaging: karl.plume.thomsonreuters.com@reuters.net))