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A market analyst says ethanol plant slowdowns are pushing DDGS prices higher, spilling over into soybean meal and canola meal across the protein complex. Soybean meal spot prices rose about $40 in a short window before partially retracing from a peak near $335 to roughly $320-325 per ton.
He expects soybean meal could return to around $380 per ton as domestic feed demand shifts away from DDGS.
Lower DDGS supply removes a competing feed ingredient, supporting soybean meal and canola meal prices while corn faces pressure from weak ethanol demand. Feed buyers should expect protein costs to firm relative to energy feeds.
brownfieldagnews.comLarry LeeMar 27, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
