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 oil have become more available in the market as biofuel feedstocks.
In October, over 832 million pounds of soybean oil were used to produce biodiesel and renewable diesel, a new monthly record.
Palm oil disappearance in November was essentially unchanged from October but slightly lower than in November 2020. Disappearance of coconut oil and PKO was down month on month and year on year. Stocks of refined palm oil and PKO were both lower than year-ago levels, but stocks of crude coconut oil were up 58 percent YOY.
U.S. edible oils removed from stocks for processing
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