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The U.S. Grains Council weekly DDGS report says U.S. DDGS values were slightly lower as buyers covered near-term needs and spot demand eased. Soymeal offers in Kansas City rose $11.50/MT, and DDGS were priced at 120 percent of cash corn, above the three-year average.
Export demand remained firm, with barge CIF NOLA values up $9-14/MT.
Soymeal strength supports DDGS as a protein substitute in feed rations, so DDGS prices are likely to hold up despite softer spot demand. Buyers should expect firm export-driven support in the near term.
grains.orgNov 12, 2020Not 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.
