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Cash corn prices fell about 5 cents per bushel across the U.S. during the week, while DDGS FOB ethanol plant prices held steady despite a $6/MT drop in Kansas City soymeal. Overseas buyers, notably Indonesia and South Korea, were actively securing U.S. DDGS, with prices up $5-6/MT for those destinations and Southeast Asia averaging $240/MT for December shipment.
Canadian National Railway strike is affecting logistics and prices at some locations.
Firm export demand from Southeast Asia supports DDGS values, while the CN rail strike adds logistics friction that can widen regional basis and rail-delivered price differences for feed buyers.
grains.orgNov 21, 2019grains.orgNov 21, 2019grains.orgNov 21, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and +0.3% over 20.
After 224 past neutral trade events, Soybean Meal moved a median -0.2% over 5 sessions (43% higher; middle half -1.7% to +1.2%), 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.
