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Buyers of DDGS were waiting for softer prices as weather warmed, while sellers defended offers ahead of expected April and May turnarounds, leaving trade quiet and low-volume. FOB Gulf DDGS was pressured lower by $2/MT after Brazilian corn weighed on FOB corn, and DDGS was priced at 41 percent of soybean meal.
Container freight to Southeast Asia rose $3/MT.
DDGS holds a clear per-protein cost advantage over soybean meal, which supports export demand, but weaker corn prices from Brazil cap DDGS values. Buyers are holding back, so prices may soften before spring plant maintenance tightens supply.
grains.orgMar 30, 2017grains.orgMar 30, 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.
