The figure declined by 4.2% from 192 million bu in May but rose by 5.1% from 175 million bu in June 2023 and was at the lower end of average market estimates.
It is typical for US soybean crush levels to drop over the summer months since processors shut down plants for maintenance work and repairs during this period.
A total of 2.18 lbs of crude soybean oil was produced in June, down by 4% month on month but up by 5% year on year. Refined soybean oil production in June was 1.71 billion lbs, dropping by 4% month on month and by 1% year on year.
In the last few months, several new crush plants have come online to supply soybean oil to the market at a time when demand from the US biofuel sector has been rising amid increased production and capacity additions of biodiesel and renewable diesel.
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11.27.2024
Regional biodiesel prices stable amid low buying, selling interest
Regional biodiesel prices were stable on Wednesday November 27 amid low buying and selling interest.
Biofuel markets in general have slowed ahead of the implementation of the Clean...
11.27.2024
US animal fats and oils markets quiet amid Thanksgiving holiday; ethanol, DCO production hits record high
The US animal fats and oils markets was steady on Wednesday November 27, as trading was subdued ahead of the Thanksgiving holiday.
The...
11.27.2024
US animal protein November price average higher month on month
US animal proteins were steady on Wednesday November 27. Light trade was reported from market sources on the last day ahead of the extended Thanksgiving holiday weekend.
November...