DAVENPORT, Neb. (DTN) -- Prices of corn and dried distillers grains both took a gigantic tumble in the past week, due largely to last week's USDA quarterly stocks report.
The report, released last Thursday, estimated approximately 370 million more bushels of corn than originally forecast. The report caused corn to tumble limit down 40 cents, and soon brought DDG prices down with it, as DDG prices tend to mirror movement on the corn board.
Just hours after the report was published, the DTN weekly spot price average had already fallen $3 per ton, from $264 to $261 per ton.