2024 factory price soybean oil extraction plant in United States

Oil Crops Outlook: January 2024 USDA ERS

  • 2024 factory price soybean oil extraction plant in United States
  • 2024 factory price soybean oil extraction plant in United States
  • 2024 factory price soybean oil extraction plant in United States
  • 2024 factory price soybean oil extraction plant in United States

Oil Crops Outlook: April 2024 Cornell University

Grains and Oilseeds Outlook USDA

Why Soybean Prices Have Continued to Fall Throughout 2024

USDA 2024/25 U.S. Grains and Oilseeds Outlook

  • What is the soybean & oil crop outlook for 2024/25?
  • See the latest Soybeans & Oil Crops Outlook report. USDA, National Agricultural Statistics Service’s (NASS) Crop Production report this month indicated the 2024/25 soybean production at the record level of 4.6 billion bushels, marginally lower than last month’s forecast.
  • What is the soybean supply forecast for 2024/25?
  • “The US soybean supply for marketing year (MY) 2024/25 is forecast at 4.8 billion bushels, 8 percent higher than MY 2023/24 but down 20.0 million bushels from last month’s forecast,” the USDA’s July 2024 crop outlook report also stated, thus providing further justification for the recent soybean sell-off.
  • How much will soybean meal cost in 2024/25?
  • The soybean meal price is forecast down $60 per short ton from last marketing year to $320 per short ton for 2024/25. Soybean oil domestic demand will continue to increase driven mainly by higher biomass-based diesel production.
  • What is the US soybean oil supply estimate for 2023/24?
  • The U.S. soybean oil supply estimate for 2023/24 is increased this month by 95 million pounds to 29.2 billion pounds due to higher domestic production and imports. Soybean oil domestic production is raised on a higher oil extraction rate—now forecast at 11.77 pounds per bushel.

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