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Soy Oil News - U.S. September 2022/23 Soy Oil Stocks Estimate Decreased To 1,826 million Lbs: USDA
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U.S. September 2022/23 Soy Oil Stocks Estimate Decreased To 1,826 million Lbs: USDA

According to United States Department of Agriculture (USDA) September estimate, U.S 2022/23 ending stocks of soy oil estimate has been reduced to 1,826 million lbs compared to 1,811 million lbs in Aug estimate. Opening stocks are at higher side at 2,151 million lbs from 2,101 million lbs in its earlier estimate due to slight lower crushing. Production of soy oil stood at 26,075 million lbs compared to 26,310 million lbs in previous month. Imports are kept unchanged at 500 million lbs. Biodiesel demand declined slightly to 11,800 million lbs compared to 12,000 million lbs. Food, feed and other industrial use is kept unchanged at 13,700 million lbs. Exports demand is anticipated to be steady at 1,400 million lbs. Average price range estimate is kept unchanged at 69.0 cents/lbs same as of last month.