US production of biofuel feedstock distillers corn oil (DCO) rose in October by 17pc from the prior month, the US Department of Agriculture (USDA) said in its Grain Crushings report.
US output of DCO totaled 186,770 short tons (st) in October, up from 159,873 st in September. Production was 1.6pc higher compared with October 2021.
DCO is a byproduct of ethanol production and is related to volumes of ethanol produced.
Since the start of November, DCO prices in the US Gulf coast on a delivered basis lost 0.5¢/lb, with the last Argus-assessed price at 78.5¢/lb on 1 December. Prices across all Midwest regions lost 4¢/lb since the start of November to close at 74¢/lb on 1 December. DCO prices tracked the weakness in soybean oil futures, which fell around 8pc since the start of November for both December and January CBOT contracts.
Crude corn oil, soybean oil and canola oil production also provide insight into feedstock supplies for renewable biofuels, volumes of which were released yesterday by the USDA in its Fats and Oils: Crushings, Production, Consumption and Stocks monthly report.
US crude soybean oil production for October was 2.3bn lbs, up by 17pc from the prior month, but 0.4pc lower than October 2021.
US production of crude corn oil totaled 147mn lbs in October, 4.3pc higher than September but 8.1pc lower than a year earlier.
US crude canola oil production in October was 169mn lbs, up by 14pc from September and 7.6pc higher than a year earlier.
| US DCO production | st | ||||
| October 22 | September 22 | October 21 | m/m ±% | y/y ±% | |
| Distillers corn oil | 186,770 | 159,873 | 183,804 | 16.8 | 1.6 |
| US oilseeds production | mn lb | ||||
| October 22 | September 22 | October 21 | m/m ±% | y/y ±% | |
| Crude soybean oil | 2,338 | 1,993 | 2,348 | 17.3 | -0.4 |
| Crude corn oil | 147 | 141 | 160 | 4.3 | -8.1 |
| Crude canola oil | 169 | 148 | 157 | 14.2 | 7.6 |
| — USDA | |||||
