SunSirs: Depressed Demand, Chinese DDGS prices Continue to Fall
June 15 2020 08:02:43 SunSirs (Linda)
According to SunSirs monitoring, since June, after Chinese DDGS market fell sharply, it has gradually stabilized, and mainstream offers have fallen to the 2,000 yuan mark. At the beginning of the month, the average Chinese DDGS market price was 2,056 yuan/ton. As of the 12th, the average price was 2,000 yuan/ton, and the price fell by 2.76%.
Terminal demand diminishes, DDGS enters downstream channel
At the beginning of June, the terminal pig price and egg price dropped. Temporary storage of corn for auction led to a weak decline in soybean meal prices. The entire feed ingredients market performed poorly. DDGS manufacturers lacked confidence in the price, and the prices of DDGS also fell. After the price fell sharply at the beginning of the month, the prices gradually stabilized and remained at around 2,000 yuan/ton.
On June 12, some Chinese manufacturers' DDGS quotations are as follows: Jilin Dongfeng Biochemical DDGS No. 2 color 2,030 yuan/ton, (production date is January 2020-February 2020), August 2019 production: 1,920 yuan/ton. The DDGS price of Jiaozuo Heyang Alcohol Industry Co., Ltd. is 1,980 yuan/ton. Shandong Weifang Yingxuan Industry Co., Ltd. DDGS offer 2,100 yuan/ton.
SunSirsDDGS analysts believe that the current terminal feed market is generally weak, and raw corn is suppressed due to the increase in temporary storage auctions. It is expected that the DDGS in the future market will still run mainly weakly.
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