(Resend text without change, add Nopa in the title)
by Julie Ingwersen
CHICAGO (Reuters) – Soybean crushes in the United States hit a three-month low in September and fell below average trade estimates, while soybean oil inventories at the end of last month rose for the third month in a row, according to data from the Association’s National Oilseed Processors (NOPA) released on Friday.
Nopa members, which handle about 95% of all processed soybeans in the United States, crushed 153.8 billion bushels of soybeans last month, down 3.2% from 158.843 million bushels crushed in August and 4 .8% below the 161.491 million bushels crushed in September 2020.
The September crush was expected to fall to 155.072 million bushels, according to the average of 10 analyst estimates. Estimates ranged from 148.0 million to 162.8 million bushels, with a median of 154.150 million bushels.
Nopa said soy oil offers among its members as of 30 September had risen to 1.684 billion pounds, from 1.668 billion pounds at the end of August.
Oil inventories were expected to fall to 1.663 billion pounds, based on estimates collected from seven analysts. Estimates ranged from 1.625 billion to 1.718 billion pounds, with a median of 1.650 billion.
Soybean exports last month fell to 603,545 tonnes, from 856,619 tonnes in August and 991,134 tonnes in September 2020, Nopa says.
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