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U.S. DDGS prices were lower in the week as ethanol run rates rose and weaker soymeal futures pressured the market. Merchandisers reported strong domestic demand, but extra production weighed on prices at the margin.
The DDGS/cash corn ratio was 0.85, below its three-year average of 1.13, and export offers were mixed, with FOB Gulf at $274/MT for July.
Rising ethanol output adds DDGS supply that can push prices lower relative to corn and soymeal. Lower DDGS values make the product more attractive as a feed substitute.
grains.orgJun 3, 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.
