SunSirs: Raw Material Market is Boosted, China's DDGS Prices Continue to Rise
October 16 2020 08:13:37 SunSirs (Linda)
According to SunSirs monitoring data, after the National Day, the price of domestic DDGS ushered in a sharp rise. As of October 15, the average market price of domestic DDGS was RMB 2,350/ton, an increase of 4.29% from the beginning of the month.
Raw corn market supports DDGS rising market
Since September, three consecutive typhoons have hit the Northeast producing areas, and concerns about market production reductions have increased. Corn futures have continued to rise sharply, futures have risen, and corn prices have continued to rise. After the National Day, the new season corn has been listed successively, and the reduction in production is a foregone conclusion. The spot price of corn futures has risen sharply, and the open scale price has increased by 400-500 yuan/ton compared with previous years.
The price of raw corn continues to rise, and alcohol plants have gradually increased the price of DDGS. After the rise of DDGS in September, DDGS continued to stabilize. After the National Day, DDGS once again followed the rise of corn prices and rose sharply. The price exceeded the 2,300 yuan mark, an increase of nearly 5%. The mainstream quotation in Shandong exceeded the 2,500 yuan mark, the mainstream quotation in Henan reached 2,300 yuan/ton, and the Jilin area exceeded 2,200 yuan/ton, both rising 100-200 yuan from before the holiday.
DDGS analysts believe that. The price of raw corn is supported by the sharp rise, and the price of DDGS is likely to rise but not fall in the short term
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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