Cash corn prices are lower across the U.S. this week with basis remaining steady at 22 cents under September futures (-22U). Prices for DDGS FOB ethanol plants are steady this week while Kansas City soymeal prices are down $4/MT at $316. DDGS are priced at 114 percent of cash corn values, up from the prior week and above the five-year average ratio of 109 percent. The DDGS/soymeal price ratio is 0.42, equal to the prior week and the three-year average.
Offers for DDGS on the export market are mostly higher this week with Barge CIF NOLA values up $4-5/MT and FOB Gulf offers rising $1/MT for spot shipment. Merchandisers report that international demand is picking up following a minor seasonal slowdown in July. Offers for DDGS CNF Southeast Asia are $1/MT higher for August and September shipment this week and are up $5/MT for October/November. The average offer for 40-foot containers to Southeast Asia is $234/MT this week.