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Cash corn averaged $3.92/bushel and FOB ethanol plant DDGS prices fell $2.50/MT to $144.50/MT. DDGS are at 94% of corn value, below the two-year average of 107%, and soymeal fell to $339/MT.
Improving Mississippi River conditions let trapped barges move to the Gulf, and international demand was quieter.
Improved river logistics ease barge bottlenecks and lower freight costs for DDGS exports, while softer soymeal and corn futures pressure feed prices.
grains.orgAug 1, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 34 past bearish logistics events, Soybean Meal moved a median +0.4% over 5 sessions (53% higher; middle half -1.8% to +2.6%), and -1.2% 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.
