NOPA November U.S. soy crush seen at 181.473 million bushels
CHICAGO — The U.S. soybean crush likely surged in November to the ninth highest on record for any month, supported by strong supplies of newly harvested soybeans, analysts said ahead of a monthly National Oilseed Processors Association (NOPA) report due on Thursday.
NOPA members, which handle about 95% of all soybeans processed in the United States, were estimated to have crushed 181.473 million bushels of soybeans last month, according to the average of estimates from seven analysts.
If realized, the monthly crush would be down 1.62% from the 184.464 million bushels processed by NOPA members in October, but up 1.12% from the November 2021 crush of 179.462 million bushels. It would also be the largest November crush on record.
The November estimate implied a daily processing rate of 6.049 million bushels, which would be the highest daily crush on record.
Estimates for the November 2022 crush ranged from 180.000 million to 183.115 million bushels, with a median of 181.265 million bushels.
The monthly NOPA report is scheduled for release at 11 a.m. CST (1700 GMT) on Thursday. NOPA releases crush data on the 15th of each month, or the next business day.
Soyoil supplies held by NOPA members as of Nov. 30 were projected at 1.619 billion pounds, according to the average of estimates gathered from five analysts.
If realized, the soyoil stocks would be up 6% from the 1.528 billion pounds at the end of October but down 11.61% from the 1.832 billion pounds held by NOPA members at the end of November last year.
Soyoil stocks estimates ranged from 1.550 billion to 1.775 billion pounds, with a median of 1.600 billion pounds. (Reporting by Christopher Walljasper and Karl Plume in Chicago)
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