CHICAGO, Oct 29 (Reuters) – U.S. soybean crushings likely declined to 4.907 million short tons, or 163.6 million bushels, in September, according to the average forecast of nine analysts surveyed by Reuters ahead of a monthly U.S. Department of Agriculture (USDA) report.
Crush estimates ranged from 162.9 million bushels to 165.0 million bushels, with a median of 163.2 million bushels.
The USDA is scheduled to release its monthly fats and oils report at 2 p.m. CDT (1900 GMT) on Monday.
If the estimate is realized, it would be down from 168.2 million bushels processed in August and below the September 2020 crush of 171.0 million bushels. It would also be the smallest crush in three months and the second-smallest monthly crush in two years.
U.S. soyoil stocks as of Sept. 30 were expected to rise slightly to 2.190 billion lbs, based on the average of estimates from six analysts, compared with 2.184 billion lbs at the end of August and 1.853 billion lbs at the end of September 2020.
Soyoil stocks estimates ranged from 2.136 billion to 2.210 billion lbs, with a median of 2.200 billion lbs.
The National Oilseed Processors Association said its members, which account for about 95% of all U.S. soybean crushings, processed 153.800 million bushels in September, a three-month low. Soyoil stocks among NOPA members rose for a third straight month, totaling 1.684 billion lbs at the end of the month.
(Reporting by Karl Plume; editing by Jonathan Oatis)
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