USDA January Fats and Oils: Oilseed Crushings, Production, Consumption and Stocks Report

Soybeans crushed for crude oil was 6.00 million tons (200 million bushels) in November 2023, compared with 6.04 million tons (201 million bushels) in October 2023 and 5.69 million tons (190 million bushels) in November 2022.

Crude oil produced was 2.32 billion pounds down 2 percent from October 2023 but up 6 percent from November 2022.

Soybean once refined oil production at 1.71 billion pounds during November 2023 decreased 9 percent from October 2023 but increased 5 percent from November 2022.

Canola seeds crushed for crude oil was 231,170 tons in November 2023, compared with 208,071 tons in October 2023 and 180,750 tons in November 2022.

Canola crude oil produced was 182 million pounds, up 10 percent from October 2023 and up 26 percent from November 2022.

Canola once refined oil production, at 161 million pounds during November 2023, was down 7 percent from October 2023 but up 11 percent from November 2022.

Cottonseed once refined oil production, at 26.6 million pounds during November 2023, was down 24 percent from October 2023 and down 28 percent from November 2022.