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A feed nutritionist explains how 2020's COVID-19 slowdown reduced ethanol output, which in turn cut production of dried distillers grains used in cattle rations. Byproduct feed prices are tied to the value of primary products such as oil, flour, ethanol and sweeteners.
Lower ethanol runs cut DDGS supply and make cattle rations more dependent on other byproducts, which can firm those meals' prices.
hpj.comLacey VilhauerNov 20, 2020After 78 past neutral macro events, CORN moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 238 past macro events, SBM moved a median -0.6% over 5 sessions (40% higher; middle half -2.1% to +1.7%), and -0.5% over 20.
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.
