By Mark Weinraub
CHICAGO, Nov 15 (Reuters) – Soybean processors crushed the most amount of soybeans in nine months during October, with supplies from harvest providing ample stocks for their operations, according to National Oilseed Processors Association (NOPA) data released on Monday.
NOPA members crushed 183.993 million bushels of soybeans in October, up from 153.800 million bushels crushed in September but below the 185.245 million bushels in crushed October 2020.
The October crush, which was the third highest monthly total on record, reflects the withdrawal of one NOPA member from reporting, the group said.
Processors had been expected to crush 181.945 million bushels during the month, according to the average of estimates from 11 analysts. Estimates ranged from 176.900 million to 187.789 million bushels, with a median of 181.700 million bushels.
NOPA said soyoil supplies among its members as of Oct. 31 rose to 1.835 billion lbs, the highest since the end of May 2020. A month ago, soyoil stocks stood at 1.684 billion lbs.
Soyoil stocks have risen for four months in a row.
Oil stocks had been expected to rise to 1.724 billion lbs, based on estimates gathered from eight analysts. Estimates ranged from 1.590 billion to 1.834 billion, with a median of 1.742 billion.
(Reporting by Mark Weinraub)
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