By Karl Plume
CHICAGO, Might 27 (Reuters) – U.S. soybean processors probably crushed 5.133 million brief tons, or 171.1 million bushels, of soybeans in April, in line with the typical forecast of seven analysts surveyed by Reuters forward of a month-to-month U.S. Division of Agriculture (USDA) report.
Estimates ranged from 170.zero million bushels to 173.zero million bushels, with a median of 171.zero million bushels.
The USDA is scheduled to launch its month-to-month fat and oils report at 2 p.m. CDT (1900 GMT) on Tuesday.
If the estimate is realized, the April crush can be down from 188.2 million bushels processed in March and under the April 2020 crush of 183.four million bushels, which was the most important April crush on file.
U.S. soyoil shares as of April 30 had been estimated at 2.171 billion lbs, based mostly on estimates from 5 analysts, in contrast with 2.245 billion lbs on the finish of March and a pair of.602 billion lbs on the finish of April 2020.
Soyoil shares estimates ranged from 2.150 billion to 2.200 billion lbs, with a median of two.167 billion lbs.
The Nationwide Oilseed Processors Affiliation, whose members account for about 95% of all soybeans processed in the USA, crushed 160.310 million bushels final month, properly under expectations. The group’s members additionally reported soyoil shares totaling 1.702 billion lbs.
(Reporting by Karl Plume; Enhancing by Cynthia Osterman)
(([email protected]; +1 313 484 5285; Reuters Messaging: [email protected]))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.