December WASDE; Soybean Oil and the Blenders Tax Credit

There were not a whole lot of changes made to the December WASDE report released by the USDA.  Overall oilseed production for 2015/16 was forecast at 117.7 million tons. A slight reduction from the prior month due a smaller cottonseed forecast.  There was no change to the soybean balance sheet and soybean meal balance sheet.  Soybean ending stocks are still forecast to be at their highest levels…