News

Strong U.S./Canada oilseed crush in 2024

The U.S. and Canada combined to crush more oilseeds in 2024 than 2023 as producers tried to meet demand expectations.

A joint report from the USDA and Statistics Canada shows 2.637 billion bushels of soybeans were crushed for meal and oil, 84 million more than the previous year.

Combined crude soybean oil production climbed 957,211 pounds to 28.255 billion, with bean meal production rising 1,524,265 tons to 52,905,773.

14,953,803 tons of canola were crushed, up 8% on the year, with crude canola oil production jumping more than a million pounds to 12,599,565 and meal production up just over a half a million tons at 8,698,853.

Nearly all of those soybeans were crushed in the U.S. while the majority of the canola crush was in Canada.