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SunSirs: Limited Cost Support, Chinese DDGS Continues to Drop
June 21 2021 08:27:46SunSirs(Linda)

Beginning in June, domestic DDGS continued to be weak and the market rose weakly. As of June 18, the average market price of domestic DDGS was 2,710 yuan/ton, down 0.97% from the price in early June.

The supporting role of raw materials is limited, and the domestic DDGS market continues to drop

Beginning in June, the domestic DDGS market has seen a downward trend. The price of raw corn and terminal pigs has continued to fall. Demand has weakened and corn prices have continued to fall. The demand for DDGS terminal aquaculture is general. The market for substitutes such as soybean meal and rapeseed meal has fallen, and the profits of alcohol plants have shrunk sharply. They have stopped for maintenance. The start-up time has not been determined. The inventory is mainly sold. The manufacturers have insufficient confidence in the price. They have lowered the ex-factory price of DDGS. The market continued to decline. As of June 18, the average market price of domestic DDGS was 2,713 yuan/ton, a drop of 0.85%.

On June 18, Heyang Alcohol DDGS was quoted at RMB 2720/ton, and the price was down RMB 40/ton from the beginning of June. It was shutting down; Ensign was shutting down and there was no quotation; Dongfeng DDGS was offering RMB 2700/ton and it was shutting down.

End-point feed demand is flat, raw material corn has entered a downward trend, and the market outlook for domestic DDGS is still under pressure.

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