NOPA July U.S. soybean crush forecast at 171.525 million bushels -survey
By Karl Plume
CHICAGO, Aug 12 (Reuters) - The U.S. soybean crush in July likely rebounded from a nine-month low the prior month to the highest point since March, analysts said ahead of a monthly National Oilseed Processors Association (NOPA) report due on Monday.
NOPA members, which handle about 95% of all soybeans processed in the United States, were estimated to have crushed 171.525 million bushels of soybeans last month, according to the average of estimates from 10 analysts.
If realized, the crush would be up 4.2% from the 164.677 million bushels processed by NOPA members in June and up 10.6% from the July 2021 crush of 155.105 million bushels. It would also be the second largest July crush on record, behind only 2020.
Estimates for the July 2022 crush ranged from 168.500 million to 177.000 million bushels, with a median of 170.928 million bushels.
The monthly NOPA report is scheduled for release at 11 a.m. CDT (1600 GMT) on Monday. NOPA releases crush data on the 15th of each month, or the next business day.
Soyoil supplies as of July 31 likely declined for a fifth straight month to a 10-month low of 1.713 billion pounds, according to the average of estimates gathered from seven analysts.
If realized, the soyoil stocks would be down 3.0% from 1.767 billion pounds at the end of June but up 6.0% from the 1.617 billion pounds held by NOPA members at the end of July 2021.
Soyoil stocks estimates ranged from 1.600 billion to 1.807 billion pounds, with a median of 1.725 billion pounds. (Reporting by Karl Plume; Editing by Josie Kao)
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