During the week ending December 7, U.S. soybean oil exports for 2023/24 were 300 tonnes (MT), down 77 percent on the week and 61 percent from the four-week average. The only buyer was Canada, the USDA’s Weekly Export Report released on December 14 showed.

The agency also reported that total U.S. soybean oil sales were 300 MT for 2023/24, down sharply on the week. The sales figure was also down 63 percent from the four-week average. The sole destination was Canada.

For the review period, cumulative U.S. soybean oil sales were up 50 percent (6,200 MT) on the yearly period. Outstanding domestic soybean oil exports were down 0.5 percent (100 MT) from the week prior to 22,200 MT. However, this was down 0.5 percent (600 MT) from the same week in 2022. Total U.S. soybean oil commitments were up slightly on the week to 28,300 MT but were down about seven percent (2,100 MT) from the same week in 2022. 

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