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USDA reported DDGS prices averaged $147 per short ton in the November 1 National Weekly Ethanol Report, up $2 week-over-week and $1 month-over-month. The DDGS/cash corn ratio rose to 1.06 from 1.03, and EIA data showed ethanol production averaging 1,105 thousand barrels per day for the week ending November 1.
Rising DDGS prices and higher ethanol output support feed-byproduct demand and modestly firm the DDGS-to-corn value ratio, which favors DDGS inclusion in feed rations.
grains.orgNov 7, 2024Not 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.
