USDA September soy crush estimated at 187.4 million bushels, analysts say

CHICAGO, Nov 1 (Reuters): The US soybean crush likely rebounded in September to 5.623 million short tons, or 187.4 million bushels, analysts surveyed by Reuters estimated ahead of a monthly US Department of Agriculture report due on Friday.
If the average of nine estimates is realized, it would be up 11.9 per cent from a near-three-year low monthly crush of 167.5 million bushels in August and up 7.2 per cent from the September 2023 crush of 174.7 million bushels. It would also be a new record-large September crush.
Soy processors have expanded crush capacity and built new plants over recent years to seize upon rising demand for soyoil to make biofuel.
After a lower-than-anticipated August crush blamed on extensive seasonal plant maintenance downtime, the processing pace was expected to rebound in September and rise even further in the months ahead as a US harvest floods the market. Crush estimates ranged from 186.9 million to 189.0 million bushels, with a median of 187.2 million bushels.
The USDA is scheduled to release its monthly fats and oils report at 2 p.m. CDT (1900 GMT) on Friday.
US soyoil stocks as of Sept. 30, 2024, were estimated at 1.539 billion pounds based on the average of estimates from six analysts.
The oil stocks estimate, if realized, would reflect a 5.6 per cent drop from 1.629 billion pounds at the end of August and a 4.3 per cent decline from year-ago stocks totaling 1.607 billion pounds.
Analysts' estimates ranged from 1.425 billion to 1.602 billion pounds, with a median of 1.555 billion pounds.
The National Oilseed Processors Association said its members, which account for about 95 per cent of soybeans processed in the United States, crushed 177.320 million bushels last month, a record amount for September. End-of-month oil stocks fell to 1.066 billion pounds, the tightest since November 2014, according to NOPA data.