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Following USDA's WASDE report, cash corn fell sharply before partly recovering. FOB ethanol plant DDGS rose for a fifth straight week, while Gulf DDGS eased to $208 for September shipment.
Cattle feeder demand for DDGS is expected to increase into late 2018 and early 2019.
Expected stronger domestic cattle-feeder demand in Q4 2018 and Q1 2019 supports DDGS prices, while the WASDE-driven corn decline reduces feed costs.
grains.orgAug 16, 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.
