Corn prices fell on U.S. production expectations and good weather, adding to a generally bearish market tone. However, FOB ethanol plant DDGS values were up again to $136.39, their 7th straight week of gains, as ethanol production steadied. The DDGS/cash corn value stands at 106 percent of its two-year average. Domestic demand for DDGS in feeding rations remained normal as beneficial rains have kept cattle on green pasture.
DDGS at the Gulf fell again this week to $203/MT (September delivery). Prices for 40-ft. containers to SE Asia were down $4/MT on average, while containers to South Korea and Taiwan fell $5/MT and $4/MT, respectively. U.S. rail rates were mostly unchanged.
Asian buyers are active as prices become more attractive; merchandisers reported sales to Indonesia and Vietnam for September. Container availability is plentiful depending on the carrier.