Cash corn prices are steady across the U.S. this week with basis widening to 20 cents under March futures. Prices for DDGS FOB ethanol plants are $2/MT higher, following a $4.00/MT decrease in Kansas City soymeal prices. DDGS are priced at 108 percent of cash corn values, steady with last week and above the three-year average. The DDGS/soymeal price ratio is 0.48, higher than the prior week and above the three-year average.
DDGS markets are quiet this week with the New Year’s holiday dampening trading activity. Merchandisers report that between the holiday, staff vacations, and no significant logistics issues, markets are thinly traded and prices are mostly in-line with the prior two week’s values. Indications for January DDGS FOB NOLA are steady while offers for February and March are down $1/MT from last week. Conversely, prices for 40-foot containers to Southeast Asia are up $1/MT for deferred months, while spot values are unchanged at $246/MT.