NOPA October U.S. soy crush seen rising to 184.464 million bushels
By Karl Plume
CHICAGO, Nov 11 (Reuters) - The U.S. soybean crush likely surged in October to the fourth highest on record for any month as processing plants received a flood of newly harvested beans, analysts said ahead of a monthly National Oilseed Processors Association (NOPA) report due on Tuesday.
NOPA members, which handle about 95% of all soybeans processed in the United States, were estimated to have crushed 184.464 million bushels of soybeans last month, according to the average of estimates from nine analysts.
If realized, the monthly crush would be up 16.7% from the 158.109 million bushels processed by NOPA members in September and up 0.3% from the October 2021 crush of 183.993 million bushels. It would also be the second largest October crush on record, behind only October 2020.
The October estimate implied a daily processing rate of 5.950 million bushels, which would be the highest daily crush pace since December.
Estimates for the October 2022 crush ranged from 175.000 million to 191.343 million bushels, with a median of 185.000 million bushels.
The monthly NOPA report is scheduled for release at 11 a.m. CST (1700 GMT) on Tuesday. NOPA releases crush data on the 15th of each month, or the next business day.
Soyoil supplies held by NOPA members as of Oct. 31 were projected at 1.535 billion pounds, according to the average of estimates gathered from six analysts.
If realized, the soyoil stocks would be up 5.2% from the two-year low of 1.459 billion pounds at the end of September but down 16.3% from the 1.834 billion pounds held by NOPA members at the end of October last year.
Soyoil stocks estimates ranged from 1.425 billion to 1.700 billion pounds, with a median of 1.530 billion pounds. (Reporting by Karl Plume; editing by Grant McCool)
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