Tidbits, May Crushings, Crude Oil Stocks & Production, USMCA, Fertilizer 7/2/26
- Wright team
- 3 days ago
- 4 min read
Tidbits
May Crushings data released yesterday by the USDA:
Total corn consumed for alcohol and other uses was 524 million bushels, up 9% from April and up 5% from May 2025, 92% of it was for alcohol and 8% for other purposes.
Soybeans crushed for crude oil was 6.39 million tons (213 million bushels), down 2.3% from April but up 4.4% from a year ago.
Canola seeds crushed for crude oil was 164,947 tons in May 2026, 18% less from April but up 56% from May 2025.
Cottonseed once refined oil production, at 22.3 million pounds during May 2026, was down 21% from April and down 23% from May last year.
U.S. crude oil inventories fell by 3.8 million barrels to 408.3 million barrels in the week ended June 26, less than market expectations for a 5.1 million-barrel draw. Gasoline stocks fell by 2.3 barrels to 214 million barrels, versus expectations for a million-barrel decline. But diesel and heating oil stocks rose for the third week in a row, this time by 2.5 million to 108.6 million barrels, compared with forecasts for a 0.7 million drop.
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