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US DDGS exports to South Korea are on track for a record 2019/2020 marketing year after a COVID-related slump in spring. South Korea bought 1.19 million metric tons of US DDGS in 2018/2019 and is the third-largest world buyer.
Feed mills had dropped DDGS when prices reached about $300 per ton in April and May.
A rebound in Korean purchases supports US DDGS export demand and firms prices, though high-priced periods can quickly shift feed formulations away from DDGS.
grains.orgrwinkertSep 10, 2020Not 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.
