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FOB ethanol plant DDGS prices fell $13/MT in the week, with Barge CIF NOLA offers down $11/MT for July and FOB Gulf offers down $15-19/MT. Domestic buyers kept a hand-to-mouth buying approach while strong ethanol run rates weighed on values.
The DDGS/cash corn ratio was 0.80, below the three-year average of 1.13.
Weaker DDGS prices and a low corn-based value ratio make DDGS a cheaper feed option for rations, which can cap soymeal and corn feed values. Lower offers from Southeast Asia-bound buyers suggest export demand is only partly offsetting domestic softness.
grains.orgJun 24, 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.
