The National Oilseed Processors Association (NOPA) is expected to report a significant rebound in U.S. soybean crush for September, estimated at 170.331 million bushels. This marks a 7.8% increase from August’s near-three-year low of 158.008 million bushels and a 2.9% rise from September 2023.
Key details include:
Soyoil Stocks Decline: Soyoil stocks are projected to fall to 1.083 billion lbs, the lowest since December 2014, down 4.9% from August.
Future Supply: Processors anticipate a robust supply of soybeans due to forecasts of a record-large U.S. harvest in 2024.
Crush Estimates: Estimates for September crush ranged from 164 million to 177 million bushels.
The NOPA report will be released at 11 a.m. CDT on Tuesday.
NOPA Reports Increase in US Soybean Crush for September