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Soybean News - U.S. November 2020/21 Soy Oil End Stocks Estimate increased to 1,912 Million Lbs: USDA
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U.S. November 2020/21 Soy Oil End Stocks Estimate increased to 1,912 Million Lbs: USDA

According to United States Department of Agriculture (USDA) November estimate, U.S 2020/21 ending stocks of soy oil estimate has been increased to 1,912 million lbs compared to 1,798 million lbs in October estimate. Opening stocks is increased to 2,177 million lbs compared to 2,063 million lbs last month. Production of soy oil in November is kept same as last month at 25,535 million lbs. Imports are kept same at 450 million lbs. Biofuel is kept same at 11,000 million lbs. Food, feed and other industrial use is also stable 14,000 million lbs. Exports is also stable at 1,250 million lbs. Average price range estimate of November is same as of October at 65.0 cents per lb.