Login ID:
Partner Login
Contact Us : 7066511911

WASDE: Soyoil Opening Stocks In 2019/20 To Rise On Lower Biodiesel Use

12 Jun 2019 9:20 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - US soyoil ending stocks will reach 1.95 million pounds at the end of the current marketing year, the USDA said Tuesday, 4.5% more than its previous projection as demand from the biodiesel sector wanes.

Soyoil use for biodiesel will be 8.2 million pounds, 2%, or 150,000 pounds lower than the USDA projected in May.

With the USDA's production, exports and import projections static for the current and next marketing year, that 150,000-pound increase in stocks will also feed into ending stocks next year, which are forecast to reach 1.54 million pounds.

On the meal side, US imports for the 2019/20 marketing year were increased to 500,000 short tonnes, as the domestic crush yields less meal with output estimated a touch lower at 49.65 million short tonnes.

The USDA only tweaked the US balance sheet in the June’s WASDE edition leaving most other figures on the global balance sheet unchanged for both soymeal and oil.

(By Commoditiescontrol Bureau)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
Malaysia's Nov 1-10 Palm Oil Exports Up 13.3% MoM: SGS
BMD CPO Ends Down On Technical Selling
Soy Complex – Soybeans (CBT) – Short-term Support at 91...
Soy Meal (CBT) – Bullish Stance Until Support at 300 Ho...
Soy Complex – Soybean Oil (CBT) – Bullish Price Trend /...
Top 5 News
Spot Mentha Remains Mostly Steady In Absence Of Cues Fr...
Sugar Gains Further In Mumbai As Govt Gives More Time T...
Malaysia's Nov 1-10 Palm Oil Exports Up 13.3% MoM: SGS
Major Spices Markets Closed Today For Guru Purnima
Karnataka Sugar Mill Prices – 12 November 2019
Top 5 Special Reports
Pigeon Pea (TUR) Spot (Mumbai INR) – Bullish Primary Tr...
Pigeon Pea (TUR) Spot (BURMA USD) – Close to a Bullish...
USD/INR (Nov. ’19) – Approaching Resistance Near 71.50 ...
Copyright © CC Commodity Info Services LLP. All rights reserved.