Futures activity The meal piece of the soy complex showed the greatest strength last week, with Jul-22 meal futures closing the week up $23 per short ton at $438.10. Conversely, soybean oil futures came under pressure, with the Jul-22 contract closing at $0.7379 per [...]
Over 1.17 billion pounds of soybean oil were removed from stocks (a proxy for monthly utilization) in November for use in edible applications. Soybean oil removed for inedible use was up from October but down year over year as yellow grease and distillers corn [...]
Manufacturers of biodiesel and renewable diesel used 663 million pounds of soybean oil in June, down 16 percent from May and down 11 percent from June 2020. Soybean oil accounted for about 44 percent of biofuel feedstock consumption during the month. We estimate that [...]
In the June WASDE, USDA lowered its 2020/21 corn ending stocks to 1.107 billion bushels, down 150 million bushels from the May figure and well below industry expectations. The drop in stocks was caused by 2020/21 U.S. exports and ethanol demand each rising by [...]
USDA reported that in January, 1.15 billion pounds of soybean oil were removed from stocks for use in edible applications. This volume was up 3 percent from December and up 5 percent from January 2020 as demand for soybean oil has proven notably resilient [...]
Biodiesel production in August was 163 million gallons, up 1 million gallons from July and up from 156 million in August 2019. During Jan-Aug 2020, manufacturers produced 1.189 billion gallons, up 1 percent from the first eight months of 2019 and just slightly lower [...]
Biodiesel production in July increased 7 percent from June and, at 162 million gallons, was up 2 percent from a year ago, as diesel fuel demand from the shipping sector supported biodiesel demand. Sales of B100 for blending totaled 98 million gallons, the highest [...]
The biodiesel industry produced 147 million gallons in May, up 2 percent from April but down 5 percent from May 2019. However, soybean oil utilization jumped to 778 million pounds, up 16 percent from April and beating the previous monthly volume of 768 million [...]
