NOPA April Soy Crush Slips to 159.990 Million Bushels, Below Trade Expectations

(Business Recorder) – The monthly US soybean crush fell below the prior-year level for a second straight month in April and was below most trade estimates, according to National Oilseed Processors Association (NOPA) data released on Wednesday.

NOPA members, which handle about 95 percent of all soybeans crushed in the United States, processed 159.990 million bushels of soybeans last month, down from 170.011 million bushels in March and below the 161.016 million bushels crushed in April 2018, the record for the month.

April’s crush was expected to rise to 161.607 million bushels, based on estimates gathered by Reuters from 10 analysts.

Crush forecasts ranged from 157.893 million to 164.0 million bushels, with a median of 161.7 million.

Soybean oil stocks at the end of April swelled to 1.787 billion pounds, up from 1.761 billion pounds at the end of March but below the 2.092 billion pounds at the end of April 2018, according to NOPA.

The soyoil stocks were slightly above the average trade estimate of 1.779 billion pounds, but within the range of trade estimates gathered from seven analysts from 1.621 billion to 1.877 billion pounds.

Soymeal exports last month declined to 763,203 tons, from 844,294 tons in March and 946,291 tons exported in April 2018, NOPA said.