November 30, 2016 / 9:46 PM / a year ago

USDA October soybean crush seen at 175.4 million bushels: Reuters poll

CHICAGO (Reuters) - The U.S. Department of Agriculture’s monthly report on oilseed crushings will likely show that about 5.262 million short tons, or 175.4 million bushels, of soybeans were processed in October, a Reuters poll of eight analysts showed on Wednesday.

Their estimates ranged from 173.5 million to 178.0 million bushels. The median forecast was 175.5 million bushels.

The USDA is scheduled to issue its report at 2 p.m. CST (2000 GMT) on Thursday. The U.S. September soy crush was 4.148 million tons, or 138.3 million bushels, the government reported.

U.S. soyoil stocks at the end of October were seen at 1.709 billion lbs, based on an average of estimates from five analysts. The soyoil estimates ranged from 1.678 billion to 1.750 billion lbs.

The USDA reported end-September soyoil stocks at 1.718 billion lbs.

The National Oilseed Processors Association, a trade group, estimated that its members crushed 164.6 million bushels of soybeans in October, up from 129.4 million in September and its third-highest monthly crush on record.

NOPA reported October soyoil stocks at 1.343 billion lbs, down from 1.376 billion in September.

Reporting by Julie Ingwersen; Editing by Jonathan Oatis

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