Ethanol Blog

The resumption of sales to China is largely responsible for the rising prices of dried distillers grains, according to an article by Agrimoney.com (http://bit.ly/…).

Chief Executive for ADM Juan Luciano mentioned while commenting about projections for rising U.S. corn exports that that reopening of China to exports of U.S. DDG has boosted values. China had rejected shipments of U.S. DDG due to detection of Syngenta's controversial MIR 162 biotech trait. However, China officially approved the trait in December 2014.

Luciano said that ADM has witnessed the increase in DDG values in the past month that China has resumed importing U.S. DDG.

Prices of have climbed steadily upwards since mid-October. The DTN weekly DDG spot price average increased a total of $81 since the third week of October, rising from $97 per ton to $178 per ton last week.

However, last week, the average leveled off slightly due to some slowness in export markets and some tightness in supplies, DDG merchandisers told DTN.

Cheryl Anderson can be reached at Cheryl.anderson@dtn.com

(ES)

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