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U.S. DDGS prices weakened again as end users kept hand-to-mouth buying despite corn and soymeal futures rallies. Ethanol output kept rising, and the DDGS/cash corn ratio was 0.71, below its three-year average.
Export FOB and barge offers rose $20/MT while 40-foot container prices to Southeast Asia fell $11.
Rising ethanol output adds DDGS supply and weak domestic buying pressures domestic values. Export strength partly offsets this, leaving a mixed but mildly bearish domestic outlook.
grains.orgJul 1, 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.
