NOPA May U.S. Soy Crush Seen at 162.474mln Bushels -Survey

(Agriculture.com) – U.S. soybean processors likely crushed fewer soybeans last month than they did in the same month a year ago, but the crush rate was still the second-largest on record for May, according to analysts polled ahead of a monthly industry report. Members of the National Oilseed Processors Association (NOPA) likely processed 162.474 million bushels of soybeans last month, according to the average of estimates given by eight analysts in a Reuters survey. If realized, it would be up from the April crush of 159.990 million bushels but below the May 2018 total of 163.572 million bushels, the all-time high for the month.

The monthly NOPA report will be released at 11 a.m. CDT (1600 GMT) on Monday. NOPA is the largest U.S. trade organization for soy crushers, with its members handling about 95% of all soybeans processed in the United States. It releases crush data on the 15th of each month or the next business day. Crush forecasts for March ranged from 157.000 million to 165.200 million bushels, with a median of 163.498 million.

Severe flooding in parts of the Midwest slowed crushing at some processors as rail and truck shipments in and out of facilities were disrupted, some analysts said. Soyoil supplies among NOPA members at the end of May were expected at 1.784 billion pounds which, if realized, would be the first decline in six months. Stocks stood at 1.787 billion pounds at the end of April and 1.856 billion pounds at the end of May 2018. Soyoil stocks estimates, gathered from five analysts, ranged from 1.750 billion to 1.823 billion lbs, with a median estimate of 1.776 billion.