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Ethanol prices fell to record lows amid reduced driving and a price war, forcing some plants to halt production and suspend corn buying. Industry observers suggest some plants may shift output toward DDGS to meet possible Chinese demand.
Plant shutdowns cut corn demand and could increase DDGS supply, while potential Chinese DDGS demand could lift co-product prices for feed buyers.
agweb.comNov 17, 2020After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
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.
