US production of biofuel feedstock distillers corn oil (DCO) fell in November by 0.1pc from the prior month, the US Department of Agriculture (USDA) said in its Grain Crushings report.
US output of DCO totaled 186,573 short tons (st) in November, down from 186,770 st in October. Production was 0.4pc lower compared with November 2021.
DCO is a byproduct of ethanol production and is related to the volumes of ethanol produced.
Since the start of December, DCO prices in the US Gulf coast on a delivered basis have fallen by 7¢/lb, with the latest Argus-assessed price at 71.50¢/lb on 3 January. Prices across all Midwest regions declined by 5.15¢/lb since the start of December to close at 68.85¢/lb on 3 January. DCO prices tracked the weakness in soybean oil futures, which have dropped by around 7.7pc since the start of December.
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 November was 2.2bn lbs, down by 6pc from the prior month and 1.7pc lower than November 2021.
US production of crude corn oil totaled 169mn lbs in November, 15pc higher than in October and 13pc higher than a year earlier.
US crude canola oil production in November was 145mn lbs, down by 15pc from October but 16pc higher than a year earlier.
| US DCO production | st | ||||
| November 22 | October 22 | November 21 | m/m ±% | y/y ±% | |
| Distillers corn oil | 186,573 | 186,770 | 187,291 | -0.1 | -0.4 |
| US oilseeds production | mn lb | ||||
| November 22 | October 22 | November 21 | m/m ±% | y/y ±% | |
| Crude soybean oil | 2,198 | 2,338 | 2,235 | -6.0 | -1.7 |
| Crude corn oil | 169 | 147 | 150 | 15.0 | 12.7 |
| Crude canola oil | 145 | 171 | 125 | -15.2 | 16.0 |
| — USDA | |||||
