Cash corn values were $3.67/bushel this week while FOB ethanol plant DDGS are down fractionally from last week to $129.35/MT. The DDGS/cash corn value is 89 percent, below the two-year average of 107 percent.
DDGS indications were mixed this week. Merchandisers report that international buyers are waiting for prices to settle after recent volatility, with close attention being paid to corn and soybean meal futures. Indications for 40-foot containers to Southeast Asia are unchanged from last week, on average, with Indonesia seeing a drop and Malaysia seeing an increase.
Domestically, FOB vessel Gulf indications for the nearby are up this week to $201/MT; U.S. rail rates are up as well.