CHICAGO, May 11 (Reuters) - U.S. soybean processors likely recorded their busiest April on record despite sharp declines in the futures market, analysts said ahead of a monthly National Oilseed Processors Association (NOPA) report due on Monday.

NOPA members, which handle about 95% of all soybeans processed in the United States, were estimated to have crushed 174.173 million bushels last month, according to the average of estimates from 8 analysts.

That compares with 185.810 million bushels processed by NOPA members in March and an April 2022 crush of 169.788 million bushels. NOPA members notched their busiest April in 2020, when they crushed 171.754 million bushels of soybeans.

Estimates for the April 2023 crush ranged from 172.000 million to 177.500 million bushels, with a median of 173.750 million bushels.

The monthly NOPA report is scheduled for release at 11 a.m. CDT (1600 GMT) on Monday. NOPA issues crush data on the 15th of each month, or the next business day.

Soyoil supplies held by NOPA members as of April 30 were forecast at 1.828 billion pounds.

Soyoil stocks at the end of March stood at a 12-month high of 1.851 billion lbs. At the end of April 2022, soyoil stocks were reported at 1.814 billion lbs.

Soyoil stocks estimates ranged from 1.750 billion to 1.950 billion pounds, with a median of 1.809 billion pounds. (Reporting by Mark Weinraub; Editing by David Gregorio)