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U.S. DDGS prices weakened in the week as strong ethanol run rates and weaker CBOT futures and other feedstuffs pressured values. FOB ethanol plant prices fell $13/MT, and the DDGS/cash corn ratio was 0.80, below its three-year average of 1.13.
Export offers were lower, though interest rose from Southeast Asian buyers after the price dip.
Lower DDGS prices and a weak corn-based value ratio make DDGS a cheaper feed option, which can limit demand for corn and soymeal in rations. Renewed Southeast Asian buying could support export prices if it persists.
grains.orgJun 24, 2021grains.orgJun 24, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not 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.
