Corn oil as biodiesel feedstock: Another record month
In May, biodiesel manufacturers used 178 million pounds of distiller-grade corn oil (DCO), repeating April’s record volume. Since USDA began reporting this data in 2014, we’ve seen ethanol dry mills produce more DCO each year, with June’s 321 million pounds a record for the month.
Production of crude edible corn oil totaled 179 million pounds in June, about the same as a year ago. Stocks of crude corn oil, at 65 million pounds, were up 150 percent from June 2017, reflecting this year’s tepid export pace. Refined corn oil is seeing a stronger disappearance rate, with June ending stocks at nearly 45 million pounds, down 32 percent year over year.
Distiller corn oil monthly use vs. price
Source: EIA, Jacobsen, McKeany-Flavell
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