The National Agricultural Statistics Service (NASS) of the United States Department of Agriculture (USDA) released its monthly report on oilseed crushings, production, consumption, and stocks for April 2024. Key highlights include:
Soybeans:
- Soybeans crushed for crude oil totaled 5.33 million tons (178 million bushels) in April 2024, down from 6.11 million tons (204 million bushels) in March 2024 and 5.61 million tons (187 million bushels) in April 2023.
- Crude soybean oil production was 2.10 billion pounds, marking a 13% decrease from March 2024 and a 6% decrease from April 2023.
- Soybean once refined oil production stood at 1.72 billion pounds, a 4% decrease from March 2024 but a 3% increase from April 2023.
Canola:
- Canola seeds crushed for crude oil amounted to 188,515 tons in April 2024, slightly down from 190,641 tons in March 2024 but up from 172,744 tons in April 2023.
- Canola crude oil production reached 153 million pounds, a 2% increase from March 2024 and a 12% increase from April 2023.
- Canola once refined oil production was 149 million pounds, a 4% decrease from March 2024 and a 2% decrease from April 2023.
Cottonseed:
- Cottonseed once refined oil production was 28.0 million pounds, down 29% from March 2024 and 12% from April 2023.
Tallow and grease:
- Edible tallow production was 74.9 million pounds, down 18% from March 2024 and 3% from April 2023.
- Inedible tallow production was 312 million pounds, a 12% decrease from March 2024 but a slight increase of less than 1% from April 2023.
- Technical tallow production rose to 127 million pounds, a 13% increase from March 2024 and a 29% increase from April 2023.
- Choice white grease production was 97.8 million pounds, down 11% from March 2024 and 6% from April 2023.
These figures reflect the varying trends in oilseed processing and oil production, with noticeable declines in soybean processing and oil output, while canola oil production shows some growth compared to the previous year.
