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
BMD Palm Falls For Third Day On Subdued US Soyoil, Stro...
Malaysia's Sept 1-20 Palm Oil Exports Down 3.90% MoM: S...
Soy Complex Soybeans (CBT) Emerging Buying Interest...
Soy Meal (CBT) Bearish Primary Trend / Prices Backing...
Soy Complex Soybean Oil (CBT) Engaging in a Pullbac...
Top 5 News
Moong Continues To Trade Mixed At Major Markets
Spot Jeera Moves Higher On Buying Support
Spot Coriander Prices Up On Increased Buying
Red Chilli Prices Fall Sharply On Subdued Demand
Market Wise Moong Arrivals: Supply Down 7.51% Against P...
Top 5 Special Reports
USD/INR A Pullback is Underway / Next Key Support Zon...
USD/INR May Decline Further Towards Key Support Zone ...
USD/INR Requires a Breakout Above 72.00 To Confirm Up...
USD/INR Impressive Turnaround After a Flush-Out / 72....
Weekly ICE cotton: Ends Sharply Up; Hopes Pinned On US...
Copyright © CC Commodity Info Services LLP. All rights reserved.