The pace of U.S. soybean processing may have slipped in August from the previous month as some crushers went down for maintenance ahead of the Midwest harvest, analysts said, ahead of the publication on Thursday of a monthly report from the National Oilseed Processors Association (NOPA).
NOPA members, which handle about 95% of all processed soybeans in the United States, are estimated to have crushed 166.11 million bushels of soybeans last month, based on the average of nine analyst estimates.
If the figure is confirmed, it would be 2.4% less than the 170.22 million bushels NOPA members processed in July, but 4.6% more than the August 2021 grind of 158.843 million bushels. bushels.
Estimates for August 2022 grinding range from 162.5 million to 171.5 million bushels, with a median of 166.5 million bushels. The NOPA report will be published on Thursday.
NOPA members’ soybean oil stocks as of August 31 are forecast to have fallen for the sixth consecutive month to a 13-month low.