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Cash corn prices were steady in the US, with basis 9 cents under March futures. DDGS prices FOB ethanol plants held steady at 108 percent of corn values, despite lower Kansas City soymeal prices.
Asian demand for DDGS containers rose, with Thailand and Vietnam offers up $4-10 per tonne.
Rising Southeast Asian demand supports DDGS export values, and a DDGS-to-soymeal ratio above average makes DDGS relatively expensive versus soymeal, which may limit substitution in feed rations.
grains.orgFeb 6, 2020Not enough comparable past events yet for a historical read.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
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.
