USDA H1 rated Mineral Oil, USP is clear, colorless, odorless, tasteless and nontoxic.
It is used as a base in formulating medicines and for lubricating food processing machinery in conditions in which "incidental contact with food is possible." Outers Honing Oil is one commonly available food grade mineral oil, or your can buy mineral oil, USP from any pharmacy. It is particularly effective in protecting iron bullet moulds from rust, and sublimes away into a smoky gas without leaving any residue on the mold which would impair casting.
Food grade H1 rated grease is also available, manufactured from pure USP mineral with a calcium hydroxy stearate thickener. Amoco FG was the particular brand I bought 20 years ago and which am still using, because a pound lasts a long time. Any food service supply house or the W.W. Grainger catalog can locate USDA H1 rated grease in pound cartridges used for charging grease guns. They cost only a few bucks.
H1 rated food grease provides good corrosion protection, because it is intended to resist hot water wash-out, steam and salt spray. Its four-ball wear scar results are comparable to good lithium wheel bearing grease and is suitable for use on ferrous or nonferrous parts, brass, aluminum, plastics, stainless steel, even wooden rollers!
I was introduced to "food grease" by the late Harry J. Archer, a clandestine services officer. Para-militaries in remote regions need lubricants which keep their equipment working in hot-wet, jungle environments, which have no tell-tale odor which would alert an enemy passing only a few feet away. Long range patrols may have to operate for weeks in hostile environments where potable water is scarce and troops will not be able to bathe frequently.