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The U.S. Grains Council weekly report put cash corn at $3.91/bushel, up sharply from the prior week. FOB ethanol plant DDGS edged up to $129.74/MT, and FOB Gulf vessel indications rose to $215/MT on rising grain prices.
Asian buyers are holding back while they gauge whether the commodity rally will last.
Higher corn costs lift DDGS offers, but the DDGS-to-corn value ratio of 84% sits well below its two-year average of 107%, so DDGS is cheap relative to corn and may attract feed buyers.
grains.orgMay 30, 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.
