Old crop July corn futures are down at midday with follow through selling. New crop prices are fading early session gains, though are still up by 2 1/2 cents at midday. 

Spot prices for DDGS in China were cited between 2,600 and 2,700 yuan/MT ($366.3/ton to $380.4/ton). Cash corn bids ranged 2,580 yuan to 2,940 yuan/MT ($10.05 to $11.60/bu). The DDGS/corn ratio is about 0.96 in China’s cash market. The Dalian Corn Prices were sharply lower on Thursday reflecting the U.S. selloff, to about 2,808 yuan/MT ($11.07/bu). 

USDA’s Daily Ethanol report cited spot DDGS bids at $285/ton in NOLA and $264/ton in the PNW. The U.S. Grains council cited the DDGS/corn ratio at 0.86 last week. 

USDA’s weekly Export Sales data release showed net cancelations for old crop corn bookings. Mexico, South Korea, and Japan were buyers for the week, but were offset by cancelations by China (334,300 MT) and unknown (192,600 MT). For new crop, USDA reported a season high 2.08 MMT of forward sales. 

Jul 21 Corn  is at $6.64 3/4, down 10 cents,

Nearby Cash  is at $6.79 1/7, down 10 1/8 cents,

Sep 21 Corn  is at $5.80 3/4, down 2 1/4 cents,

Dec 21 Corn  is at $5.60 3/4, up 2 1/2 cents,

New Crop Cash  is at $5.36 3/8, up 2 1/2 cents,