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Weekly U.S. Grains Council market report showed cash corn at $3.88/bushel, down week on week, while FOB ethanol plant DDGS rose to $140.24/MT. The DDGS-to-corn value ratio was 92%, below its two-year average of 107%.
Gulf FOB DDGS indications were $218/MT for July delivery as buyers awaited futures moves.
A DDGS-to-corn ratio below its two-year average suggests DDGS is relatively cheap versus corn, which can support feed demand and export interest. Asian buyers are expected to return, supporting DDGS prices.
grains.orgJun 6, 2019Not enough comparable past events yet for a historical read.
Not 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.
