The USDA slightly increased its estimates for US beginning and ending soybean oil stocks and total soy oil supply in 2024/25, according to its monthly World Agricultural Supply and Demand Estimates (WASDE) released on Thursday September 12.
The agency hiked its 2024/25 outlook for beginning soybean oil stocks to 1.622 billion lb, up by 10 million lb from 1.612 billion lb the month prior.
US domestic soy oil ending stocks for 2024/25 were estimated at 1.787 billion lb in the September outlook, also up by 10 million lb month on month from 1.777 billion lb.
The US soybean oil supply outlook for 2024/25 was raised by 10 million lb month on month, from 30.58 billion lb to just about 30.59 billion lb in the September report.
The soybean oil demand forecast for 2024/25 from the US biofuel sector was flat at 14.0 billion lb, while use from the food and feed industry was unchanged at 14.2 billion lb.
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