In a statement this month, the U.S. Department of Agriculture unexpectedly reduced the U.S. soybean crop this year to 73.8 million acres, from 74.3 million acres last month, and to 41.4 bushels per acre from 43.4 bushels per acre last month. Overall output fell from 3.225 billion bushels last month to 3.056 billion bushels this month, while U.S. end-of-year inventories fell to 155 million bushels this month from 175 million bushels last month. The adjustment of these figures is carried out under the normal condition of soybean growth in the United States. Significantly, the USDA's ability to regulate the soybean market is strong and satisfied, and this ability will make the U. S. soybean market before and after the strong trend.
Commercial crude oil stocks (excluding strategic oil reserves) in the United States were 34975 million barrels, down 5.23 million barrels from the previous week, slightly higher than the five-year average planning upper limit; total gasoline stocks in the United States were 2135.91 million barrels, down 1.59 million barrels from the previous week, with total gasoline stocks situated at the five-year average planning upper limit for the same period; Sixty thousand barrels were added to the stock, one million barrels were added to the regular stock of gasoline, 2.65 million barrels of mixed gasoline and 750,000 barrels of fuel ethanol. Storage of distillate oil was 1515.17 million barrels, down 740,000 barrels from the previous week. The stock was situated at the upper bound of five-year uniform planning, during which 1.4 million barrels of heating oil were added. Propane / propylene inventory is increased by 240 thousand barrels. The US oil strategy was saved by 717 million 267 thousand barrels, down by 2 million 494 thousand barrels. Us business inventories dropped by 8 million 240 thousand barrels, higher than the five year uniform planning cap.
The average daily supply of U.S. petroleum products in the last four weeks was 19.033 million barrels, 0.6% lower than the same period a year ago; gasoline demand averaged 9.122 million barrels a day, 3.4% lower than the same period a year ago; and distillate demand averaged 3.701 million barrels a day, 7.1% higher than the same period a year ago. The average daily demand of kerosene based aviation fuel is 2.5% higher than that of the same period of the previous year. Last week, U.S. gasoline demand was 924.4 barrels a day, 29,000 barrels higher than the previous week, and distillate oil demand was 3.946 million barrels a day, 52,000 barrels lower than the previous week.