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U.S. DDGS prices fell $6/MT week over week despite a second weekly cut in ethanol run rates. Buyers stayed on hand-to-mouth purchasing, and the DDGS/cash corn ratio hit its lowest level since at least 2016.
Export offers to Southeast Asia and Gulf rose on picked-up demand.
A record-low DDGS-to-corn ratio makes DDGS relatively cheap versus corn, supporting feed substitution demand. Mixed signals from ethanol cuts and export interest leave the price direction uncertain.
grains.orgJul 22, 2021Not 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.
