CHICAGO: Crush levels at US soybean processors likely eased during September as plant operators waited for the peak of harvest in key production states such as Iowa, Illinois and Indiana, analysts said.
The National Oilseed Processors Association (NOPA), the largest US trade group for the industry, is expected to report that its members crushed 127.694 million bushels of soybeans in September, based on the average of estimates given by six analysts.
If realized, that would be the busiest September for processors in nine years. The NOPA crush totaled 137.564 million bushels in September 2007.
Crush forecasts ranged from 123.000 million to 131.450 million bushels, with a median of 128.450 million bushels.
A month ago, NOPA processors crushed 131.822 million bushels of soybeans. In September 2015, the crush was 126.704 million bushels.
The NOPA report is scheduled for release on Monday at 11 a.m. CDT (1600 GMT).
Analysts also forecast that members' soyoil stocks as of Sept. 30 would be 1.500 billion lbs, down from 1.620 billion lbs at the end of August. The median was 1.504 billion lbs, with estimates ranging from 1.400 billion lbs to 1.590 billion lbs.
NOPA reported soyoil stocks of 1.355 billion lbs at the end of September 2015.
NOPA releases crush data on the 15th of each month or the next business day.
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