CHICAGO, Might 13 (Reuters) – Soy processors crushed 1.8% fewer beans in April than a yr earlier, with the tempo slowed by upkeep shutdowns at vegetation, analysts stated forward of a Nationwide Oilseed Processors Affiliation (NOPA) report due Monday.
NOPA members, which deal with about 95% of all soybeans processed in america, had been estimated to have crushed 168.741 million bushels of soybeans in April, in response to the common of estimates from 9 analysts.
That compares with a March crush of 177.984 million bushels. In April 2020, the NOPA soybean crush totaled 171.754 million bushels.
Estimates for the April whole ranged from 162.752 million to 172.000 million bushels, with a median of 169.500 million bushels.
Along with the downtimes at vegetation, tight shares of the oilseed restricted the quantity of provides accessible for crushing throughout April. The provision shortages stemmed from robust demand from each processors and exporters in current months.
The month-to-month NOPA report is scheduled for launch at 11 a.m. CDT (1600 GMT) on Monday. NOPA releases crush information on the 15th of every month, or the following enterprise day.
Soyoil provides on the finish of April had been seen at 1.785 billion kilos, primarily based on the common of estimates from six analysts. If realized, that will be up barely from 1.771 billion on the finish of March however down from 2.111 billion kilos on the finish of April 2020.
Shares estimates ranged from 1.682 billion to 1.850 billion kilos, with a median of 1.813 billion.
(Reporting by Mark Weinraub Enhancing by Marguerita Choy)
((mark.weinraub@thomsonreuters.com; +1 313 484 5282; Reuters Messaging: mark.weinraub.thomsonreuters.com@reuters.web))
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