U.S. soybean crushing volumes were 204 million bushels in December 2023, the USDA reported on February 1 in its Monthly Fats & Oils report. Although the market had expected a higher level closer to 206 million bushels for the month, the figure was still above the 200 million bushels crushed in November 2023 and the 187 million bushels processed in December 2022.
Crude soybean oil produced in December 2023 was 2.38 billion pounds, up two percent on the month and eight percent from December 2022. Refined U.S. soybean oil production totaled 1.71 billion pounds in December 2023, increasing one percent on the month and eight percent on the yearly period, the report said.
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