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US merchandisers report a stronger DDGS market despite the post-WASDE selloff in corn, soybean and soybean meal futures. Corn's recent strength eroded ethanol margins, limiting DDGS supply growth, while abnormally hot Midwest weather slowed ethanol plant output and created more off-spec product.
Tighter supply of on-spec DDGS supports prices despite lower corn and soymeal futures. Price ratios below historic norms keep DDGS competitive for feed and export demand.
grains.orgJul 13, 2017grains.orgJul 13, 2017Not enough comparable past events yet for a historical read.
Not 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.
