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DDGS prices continued higher, with the largest increases at the US Gulf and notable gains at every delivery point. Prices for 40-foot containers delivered to Southeast Asia rose 8.5% and to Shanghai 6.8% in the week.
Buyers are returning to China for protein for hog rations after the soymeal rally.
Renewed Chinese buying of protein feeds lifts export demand for DDGS and soymeal. Higher soybean prices relative to corn may also shift acreage away from corn.
grains.orgMay 12, 2016Not enough comparable past events yet for a historical read.
After 342 past bullish trade events, Soybean Meal moved a median +0.1% over 5 sessions (51% higher; middle half -1.1% to +2.6%), and +0.6% 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.
