CHICAGO: US soybean crushings likely declined for a third straight month in June to a 16-month low, according to analysts polled ahead of a monthly National Oilseed Processors Association (NOPA) report.

NOPA members, which together handle about 95% of all soybeans processed in the United States, likely crushed 154.405 million bushels of soybeans last month, according to the average of estimates from seven analysts surveyed by Reuters.

If realized, the total would represent a drop from the May crush of 154.796 million bushels and a crush of 159.228 million bushels in June 2018, the all-time high for the month. It would also mark the smallest monthly crush among NOPA members since February 2018.

The monthly NOPA report will be released at 11 a.m. CDT (1600 GMT) on Monday. The organization releases crush data on the 15th of each month or the next business day.

Crush forecasts for June ranged from 147.937 million to 164.500 million bushels, with a median estimate of 152.200 million bushels.

Soyoil supplies among NOPA members at the end of June were expected to be down for a second straight month at 1.527 billion pounds, a six-month low, based on the average of estimates from four analysts.

Stocks stood at 1.581 billion pounds at the end of May and 1.766 billion pounds at the end of June 2018.

Soyoil stocks estimates ranged from 1.490 billion to 1.595 billion pounds, with a median estimate of 1.511 billion.