Fats and Oils: Oilseed Crushings, Production, Consumption and Stocks

Released December 1, 2023, by the National Agricultural Statistics Service (NASS), Agricultural Statistics Board, United States Department of Agriculture (USDA).

Soybeans crushed for crude oil was 6.04 million tons (201 million bushels) in October 2023, compared with 5.24 million tons (175 million bushels) in September 2023 and 5.90 million tons (197 million bushels) in October 2022. Crude oil produced was 2.38 billion pounds up 14% from September 2023 and up 2% from October 2022. Soybean once refined oil production at 1.89 billion pounds during October 2023 increased 9% from September 2023 and increased 5% from October 2022.

Canola seeds crushed for crude oil was 208,071 tons in October 2023, compared with 217,153 tons in September 2023 and 208,459 tons in October 2022. Canola crude oil produced was 165 million pounds, down 3% from September 2023 and down 3% from October 2022. Canola once refined oil production, at 174 million pounds during October 2023, was up 18% from September 2023 and up 8% from October 2022.

Cottonseed once refined oil production, at 35.0 million pounds during October 2023, was down 4% from September 2023 and down 12% from October 2022.

Edible tallow production was 76.0 million pounds during October 2023, down 19% from September 2023 and down 6% from October 2022. Inedible tallow production was 318 million pounds during October 2023, up 9% from September 2023 but down 15% from October 2022. Technical tallow production was 109 million pounds during October 2023, up 10% from September 2023 but down 4% from October 2022. Choice white grease production, at 105 million pounds during October 2023, increased 4% from September 2023 but decreased 3% from October 2022.