Cash corn prices are lower across the U.S. this week, averaging $3.49/bushel while FOB ethanol plant DDGS prices are down $1.94/MT at $138.39/MT. DDGS are priced at 100 percent of cash corn values, up from last week but below the two-year average of 107 percent. Soymeal prices are lower as well, reaching $325/MT this week, which puts DDGS prices at 43 percent of soymeal.
Merchandisers note there is still some elevation for September shipments out of the Gulf but expectations are that elevations will tighten like have so far in August. Prices for DDGS CIF NOLA barge are near $169/MT for September while FOB Gulf values are slightly lower at $187/MT for the same month. Prices for 40-foot containers to Southeast Asia are slightly lower this week at $230/MT.