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The U.S. Grains & BioProducts Council weekly report put cash corn at $3.39 per bushel and FOB ethanol plant DDGS at $132.39 per metric ton, both lower on the week. The DDGS-to-corn value ratio was 99%, below its two-year average of 107%.
US DDGS exports rose 6% year on year in March, led by Turkey.
DDGS priced at a discount to corn and below its typical ratio makes it more competitive as a feed ingredient, which supports export demand. Softer corn and DDGS values also pressure co-product prices for feed buyers.
grains.orgMay 9, 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.
