Mumbai, May 15 (Commoditiescontrol): U.S. soybean processing is projected to have slowed down in April following March's record crush, due to narrowing margins and seasonal downtime at processing plants. However, analysts anticipate a record April volume, though it is not expected to surpass the all-time monthly record set in March.
The average trade estimate for the April National Oilseed Processors Association (NOPA) crush, set to be released on Wednesday, is 183.072 million bushels. This estimate ranges from a high of 191.000 million bushels to a low of 173.980 million bushels, and would represent a 6.8% decrease from March's record crush of 196.406 million bushels. It would also be the smallest monthly crush since September.
Soyoil stocks held by NOPA members are forecast to rise slightly by approximately 2% from March, reaching 1.882 billion pounds. However, this figure is still 4% lower than the stocks from a year ago. Estimates for soyoil stocks range from a high of 1.975 billion pounds to a low of 1.800 billion pounds.
The NOPA report, a key indicator of the U.S. soybean processing industry's performance, is scheduled for release on Wednesday at 11 a.m. CDT (2130 IST).
(By Commoditiescontrol Bureau; +91-9820130172)
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