RE:Destillers Grains Reach Record Premium Over Corn China is such a big consumer of everything, they can distort markets by themselves.
In relation to PEIX, this doesn't have a direct impact because PEIX doesn't create DDG from the ethanol production process. They sell Wet Distillers Grain to local farmers for feed. This saves ngas costs to dry the material AND shipping costs to get it to China. They get a lower price for WDG but I don't know the spread between WDG and DDG to China.
There is a relationship, however, due to some of the contracts being tied to the price of DDG.