By Karl Plume
CHICAGO, Aug 13 (Reuters) – The U.S. soybean crush final month was doubtless the slowest July crush since 2017 resulting from scattered processing plant downtime and tightening provides of beans, analysts stated forward of a Nationwide Oilseed Processors Affiliation (NOPA) report due on Monday.
However the crush was anticipated to have rebounded from June, when the processing tempo hit a two-year low for any month.
NOPA members, which deal with about 95% of all soybeans processed in the USA, have been estimated to have crushed 159.062 million bushels of soybeans in July, based on the common of estimates from 10 analysts.
If realized, it will be up 4.4% from the 152.410 million bushels processed in June however down 7.9% from July 2020, when crushers processed 172.794 million bushels.
Estimates for the July 2021 crush ranged from 156.200 million to 164.000 million bushels, with a median of 158.900 million bushels.
The month-to-month NOPA report is scheduled for launch at 11 a.m. CDT (1600 GMT) on Monday. NOPA releases crush knowledge on the 15th of every month, or the subsequent enterprise day.
The crush has fallen in need of market expectations for the previous 5 months as extra processors than regular idled vegetation seasonally for wanted upkeep, analysts stated.
In a month-to-month report on Thursday, the U.S. Division of Agriculture modestly lowered its 2020/21 advertising and marketing yr U.S. crush forecast by 15 million bushels to replicate the current slowdown in crushing. WASDE09
Soyoil provides on the finish of July have been projected at 1.505 billion kilos, based mostly on the common of estimates from seven analysts. If realized, that will be down from 1.537 billion the prior month and a nine-month low.
Shares estimates ranged from 1.435 billion to 1.606 billion kilos, with a median of 1.500 billion.
(Reporting by Karl Plume; modifying by David Evans)
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