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The DTN average DDG spot price rose $3 to $101 per ton for the week ended June 8, with 22 bids higher across 39 locations. The gain followed a 16-cent per-bushel rally in corn futures and firmer meal prices tied to hot weather forecasts.
Higher corn futures and weather-driven meal strength are pulling DDG prices up, and further yield concerns would support additional gains. DDG remains well below its historical relative value to corn, which may support demand.
dtnpf.comMary KennedyJun 9, 2017Not enough comparable past events yet for a historical read.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 453 past bullish weather events, Soybean Meal moved a median +0.5% over 5 sessions (55% higher; middle half -1.6% to +2.7%), and +0.5% 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.
