September domestic implied soyoil demand remains robust

September domestic implied soyoil demand remains robust

For the third straight month, implied monthly demand for soybean oil in the US was robust, as domestic soyoil stocks totaled 1.5 billion lb at the end of September, down from 1.629 billion lb in August, figures released by the USDA on Friday November 1 showed.

US soybean crush was up by 11.3% on the month in September to 168 million bushels, rebounding from a near three-year low in August, as most processing plants returned to service from planned maintenance at the end of the summer before the harvest season.

US soybean oil demand has been strong in the last year due to increased renewable diesel (RD) production and capacity additions.

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

11.22.2024

Biodiesel margins rise, but window of opportunity limited

Biodiesel margins rise, but window of opportunity limited

Biodiesel margins continued to rise during the week to Friday November 22. The bean oil/heating oil (BOHO) spread boosted margins by falling to its lowest level since August 27.

11.22.2024

Gulf prices average higher despite weeklong declines in SBO

Gulf prices average higher despite weeklong declines in SBO

For the week ended Friday November 22, packer bleachable fancy tallow (BFT) remained unchanged from the previous week’s average, while Gulf Coast-delivered tallow rose 2.7%, primarily...

11.22.2024

Bloodmeal largest price mover week on week; November cattle on feed higher

Bloodmeal largest price mover week on week; November cattle on feed higher

US animal protein prices were mixed to mostly higher for the week to Friday November 22, with only meat and bonemeal showing a slight price reduction due to tighter...

Latest Tweets