Cash corn prices are steady across the U.S. this week with basis remaining at 9 cents under March futures. Prices for DDGS FOB ethanol plants down slightly while cash soybean meal prices have recovered some of last week’s losses and are trading $5/MT higher. DDGS are priced at 107 percent of cash corn values, down from last week and slightly above the three-year average. The DDGS/soymeal price ratio is 0.50, down from the prior week and above the three-year average.
DDGS markets are higher this week with Barge CIF NOLA and FOB NOLA offers up $1-2/MT while U.S. rail rates are steady following last week’s increases. Asian demand is strengthening with buyers validating higher asking prices. Prices for 40-foot containers to Thailand and Vietnam are up $5-6/MT for spot shipment while April positions have posted smaller gains. Containers destined for Southeast Asia are up $5/MT this week, averaging $252/MT.