Crude edible corn oil production in December—182.6 million pounds—was up 4 percent from November but down 7 percent from December 2017. Cumulative crude corn oil production totaled 2.1 billion pounds in 2018, down 10 percent from 2017. Processors used 202.9 million pounds of crude oil for refining, up 7 percent YOY, contributing to crude oil stocks ending below 27.8 million pounds, their lowest level since June 2017. December stocks of refined oil, however, rose to 69.8 million pounds, their highest level since February 2018 but still down 14 percent from a year ago. U.S. exports of refined corn oil improved in November and appear headed toward a modest gain over 2017.
Crude edible corn oil production vs. use for refining
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