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DTN's average spot DDG price fell $2 to $132 per ton for the week ended September 13. DDG and other corn byproduct prices dropped after December corn futures lost 14 cents when USDA forecast a record crop, well above expectations.
Ethanol output slid 67,000 barrels per day the week ended September 7.
A larger US corn crop lowers corn values and the cost of competing feed, which pulls DDG prices down. Supplies remain ample even with the slowdown in ethanol output.
dtnpf.comMary KennedySep 14, 2018Not enough comparable past events yet for a historical read.
After 1,102 past bearish report events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.8% to +1.3%), and +0.0% 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.
