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USDA reported DDGS prices averaged $206 per short ton in its February 2 National Weekly Ethanol Report, unchanged from the prior week. The DDGS/cash corn ratio held at 1.30, well above the 1.00-1.15 range of the past two years.
December 2023 DDGS production reached 1.95 million tons, up 9% month over month and 16% year over year.
A DDGS/corn ratio near 1.3 keeps DDGS priced attractively versus corn for feed formulators, supporting demand for DDGS and limiting corn's feed substitution value. Strong DDGS output adds supply that could cap DDGS prices.
grains.orgFeb 8, 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.
