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The U.S. Grains Council reported cash corn at $3.44/bushel and FOB ethanol plant DDGS down to $129.74/MT. The DDGS-to-corn ratio was 96%, below its two-year average of 107%.
Securing Gulf vessel cargoes for nearby delivery is getting harder, with June indications at $193/MT.
Tight nearby Gulf supply and rising export offers suggest firmer DDGS export values, though southeast Asian container bids were mostly lower.
grains.orgMay 16, 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.
