US soyoil stocks fall to lowest since January 2025
US soyoil stocks at the end of August fell 3% year on year to 0.8 mln tons, the lowest level since January 2025, according to NOPA data.
The decline came amid strong domestic consumption and a seasonal slowdown in soybean crushing. US soyoil use in August was estimated at 1.24 mln tons, while the stocks-to-use ratio fell to 5.3%, equivalent to about 20 days of consumption.
US soyoil use in March–August 2026 reached a record 7.32 mln tons, up 20% from the same period a year earlier. Strong demand from the biofuel sector remains the main driver.
High domestic demand and the premium of US soyoil over global prices have sharply reduced exports. Shipments over the past six months totaled only about 130 thsd tons, compared with 557 thsd tons in March–August 2025.
Soybean crushing by NOPA members fell to 205 mln bushels in August, the lowest level in 11 months, although still 8% above a year earlier. Total US soybean crush in 2025/26 MY reached a record 72.05 mln tons, up from 66.55 mln tons a year earlier.
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