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DTN's weekly spot price for domestic distillers dried grains fell $2 to $176 per ton for the week ended April 18, across 33 reporting locations. Spot demand was flat, and EIA data showed ethanol output averaged 983,000 bpd in the week ended April 12, down week on week.
Flat spot demand and softer ethanol output point to limited near-term support for DDG prices. Basis strength at ethanol plants reflects tight old-crop corn availability rather than a new demand shock.
dtnpf.comMary KennedyApr 22, 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.
