The USDA Forecasts a Stronger 2023/2024 Canola Crush

The USDA Forecasts a Stronger 2023/2024 Canola Crush

**Note – Amanda Luhavalja will be out of the office until Thursday March 21

USDA raised its canola oil production outlook to offset growing US domestic consumption. The crush forecast was raised to 4.5 billion pounds in part to satisfy growing biofuel demand within the US.

The Energy Information Administration (EIA) reported renewable diesel production from canola oil reached 193 million pounds in December, its highest monthly demand for the year. Biodiesel demand for canola oil was 150 million pounds in December. 3.38 billion pounds of canola oil was consumed during 2023 by the biofuel industry, which was 170 percent over reported 2022 canola oil demand.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

04.19.2024

Reduced March RIN production not leading to higher RIN Prices

Reduced March RIN production not leading to higher RIN Prices

Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...

04.19.2024

CWG, YG higher on week, UCO, DCO down again

CWG, YG higher on week, UCO, DCO down again

The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.

04.19.2024

Price pressure on ruminant and porcine items for the week

Price pressure on ruminant and porcine items for the week

Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.

Wide ranges were witnessed on porcine bloodmeal (BM), with a...

Latest Tweets