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USDA reported DDGS prices averaged $142 per short ton in its August 9 National Weekly Ethanol Report, down $1 from the prior week and $8 from a month earlier. The DDGS/cash corn ratio was 1.05 and the DDGS/soybean meal ratio was 0.41.
EIA data showed U.S. ethanol output at 1,072 thousand bpd for the week ending August 9, up slightly week over week.
Steady ethanol output keeps DDGS supply ample, which is pressuring DDGS prices lower. Cheaper DDGS relative to corn and soybean meal can make it more attractive as a feed ingredient, but it also limits upside for the ingredient.
grains.orgAug 15, 2024Not 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.
