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Cash corn was steady at $4.21/bushel, and FOB ethanol plant DDGS slipped to $148.85/MT. The DDGS-to-corn ratio was 89%, below the two-year average.
Trade was quiet while participants awaited the July WASDE report.
A quiet market ahead of a major USDA report leaves DDGS prices subject to a repricing once the report is out. Slightly lower Gulf offers signal soft near-term demand.
grains.orgJul 11, 2019Not 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.
