June U.S. soybean oil stocks up 16% from year ago

by FoodBusinessNews.net Staff
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WASHINGTON — Stocks of soybean oil on June 30 totaled 3,388,732,000 lbs, up 2% from 3,310,978,000 lbs in May and up 16% from 2,919,191,000 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 June was 1,341,201,000 lbs, down 5% from 1,409,835,000 lbs in May and down 1% compared with 1,352,890,000 lbs in June 2006. Consumption of edible soybean oil in June was 1,319,640,000 lbs, down 6% from 1,409,831,000 lbs in May and down 9% from 1,446,461,000 lbs in June 2006.

Use of fats and oils to make methyl ester (biodiesel fuel) totaled 254,476,000 lbs in June, down 6% from 271,911,000 lbs in May.

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