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U.S. DDGS prices fell $1.50 per metric ton in the week to November 4 as ethanol run rates held steady and domestic demand was quiet. Soymeal and cash prices rallied, improving DDGS competitiveness, while export offers firmed slightly and FOB Gulf volatility was expected during New Orleans capacity recovery.
Steady ethanol output and well-covered end users keep domestic DDGS prices soft, though the soymeal rally improves feed competitiveness. Export firming and Gulf logistics issues could add volatility heading into harvest.
grains.orgNov 4, 2021grains.orgNov 4, 2021Not 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.
