SunSirs: Negative Pressure, China Domestic DDGS Market is Weak and Falling
April 19 2024 14:26:25 SunSirs (Selena)
According to the Commodity Market Analysis System of SunSirs, starting from April, bearish sentiment suppressed the domestic DDGS market and it oscillated and fell. On April 1st, the average market price of domestic DDGS was 2,200 RMB/ton. On April 18th, the average market price of domestic DDGS was 2,112 RMB/ton, a decrease of 3.98%.
Since April, the operating rate of alcohol factories has increased, and the supply of domestically produced DDGS has rebounded, resulting in loose supply. The procurement of terminal feed factories is cautious, with average demand. The market for substitute soybean meal continues to decline, and the boosting effect is limited. The raw material corn market continues to decline weakly, suppressed by multiple bearish factors. The domestic DDGS market has been continuously falling, with prices dropping to 2,112 RMB/ton, a decrease of nearly 4%.
Agricultural product analysts from SunSirs believe that in late April, the overall feed raw material market was sluggish, and terminal demand was poor. The domestic DDGS market continued to rise under pressure in the future.
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