**Bob Lane was out of the office today and will return on Monday, December 18, 2023. In his absence, please contact Amanda Luhavalja at [email protected] **

In its December World Agricultural Supply and Demand Estimates (WASDE) released at noon today, the USDA left nearly all of its projections for U.S. soybean oil stocks and consumption unchanged. 

The USDA’s forecast for biofuel demand for 2023/24 marketing year was steady at 12.8 billion pounds. The agency also maintained its estimate for food and feed consumption for soybean oil in 2023/24 at 14.3 billion pounds, leaving the expected domestic usage of soybean oil for the marketing year at 27.1 billion pounds.

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