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Iowa State Extension beef specialist Dan Loy says COVID-19 has cut ethanol plant output by as much as 50 percent. Lower gasoline and ethanol use has reduced the supply of distillers' grains that cattle and hog producers relied on as feed.
Producers are now having to relearn how to use corn in rations.
Less DDGS availability forces feeders to replace it with corn and other ingredients, lifting DDGS prices while softening corn demand from ethanol. The tighter co-product supply is a cost concern for livestock feeders.
wylr.netAug 8, 2020Not enough comparable past events yet for a historical read.
After 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.
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.
