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China's DDGS imports fell 71% year on year in September 2016 to 272,200 metric tons, and January to September imports totaled 2.7 million mt, down 48.74%. A CCM report attributes the drop to lower Chinese corn prices and antidumping duties on US DDGS, and it forecasts full-year 2016 imports will fall about 50%.
China is the main export market for US DDGS, so a sharp drop in its imports weakens export demand and pressures DDGS prices. Cheaper domestic corn and rising Chinese DDGS supply reinforce the bearish outlook.
feedstuffs.comNov 18, 2016Not 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.
