U.S. Oil Stocks Plunge, Australia Eyes China, Indonesia Tariffs Shift – Biodiesel Market Reshaped
Updated: Jul 16, 2025
May’s NOPA data revealed a deepening disconnect between soybean crush and oil inventories. U.S. processors crushed a record 192.829 million bushels in May, up 5% year-on-year, yet soybean oil stocks fell to just 1.373 billion pounds — the lowest May level in 21 years and 20% below 2022. The figure also came in under the average trade estimate of 1.451 billion pounds. This rare divergence confirms that downstream demand remains robust, likely driven by a combination of strong renewable diesel (RD) production and record U.S. soyoil exports.
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