Source: MORNING AG CLIPS, 1/21/19

The trade war is causing U.S. ethanol production to decline, thus raising the costs of distillers dried grains, a byproduct of the ethanol process that is used for animal feed. Reuters reports cuts to ethanol production are tightening supplies of DDGs and raising prices paid by livestock farmers. Many are turning to other feeds including soybean meal, the price of which eased as China halted imports of American soybeans.

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