May 31 U.S. soybean oil stocks up 14% from year ago

by Ron Sterk
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WASHINGTON — Stocks of soybean oil on May 31 totaled 3,283,338,000 lbs, down slightly from a month earlier but up 14% from 2,884,959,000 lbs a year ago, the U.S. Census Bureau said in its latest Fats and Oils report (click here to read report).

Production of soybean oil in May was 1,409,440,000 lbs, up 3% from April and up 47,929,000 lbs, or about 4%, from May 2006. Consumption of edible soybean oil in May was 1,415,758,000 lbs, up 7% from April but down 11,536,000 lbs, or about 1%, from a year ago.

Use of fats and oils to make methyl ester (biodiesel fuel) totaled 244,107,000 lbs in May, up 13% from April and up 100,782,000 lbs, or 70%, from May 2006.

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