Rumors of DDGS cancellations put food prices under pressure

Prices for U.S. DDGS (distillers of dried grains with solubles) fell in the last week of more than $15 per short ton, after there were rumors that China has cancelled orders and back to assigned delivered quantities. Two boatloads of the 55,000 tons of protein-rich feed, which is a by-product of corn-based ethanol production should be rejected already, six further orders would be to settle until the autumn, so two informants told the news agency of Reuters.
However, my other sources, that it involves only a "roll" of positions, a relatively well-known procedure, to benefit from lower prices during the harvest. The bids for vessel shipments from U.S. West coast ports are now at $170 per tonne for June/July shipments, which are $27-up $30 / ton less than at the beginning of the month.
Chinese buyers to cancel a weaker demand from China's feed industry, coupled with lower prices for soybean meal, get their orders. A year ago, China has again allowed imports long time had come to a standstill, as Chinese authorities had found traces of unauthorized genetically modified plants in the feed.

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