Cash corn values are $3.37/bushel this week while FOB ethanol plant DDGS are down from last week to $150.74/MT. The DDGS/cash corn value is 113 percent, above the two-year average of 107 percent.
Generally speaking, lower corn and soymeal prices pressured DDGS values in the U.S. As a result DDGS indications for U.S. rail rates, including rates to Mexico and Canada, fell this week from last week. CIF barge rates in New Orleans fell as well (-$6/MT) and FOB vessel U.S. Gulf indications were down for both the nearby and deferred month(s) delivery. FOB vessel U.S. Gulf for May was down $6/MT to $212/MT for May delivery, for example.
Internationally, 40-foot containers to Southeast Asia were up slight for nearby delivery and mixed going into May/June. Indications for Bangladesh and Myanmar are up $4/MT, on average.