USDA reported DDGS prices averaged $201 per short ton in the February 23 National Weekly Ethanol Report. This was down $1 per short ton from the previous week.
The DDGS/cash corn ratio was 1.40, up slightly from 1.37 last week. This is the highest this ratio has been in over a year, as DDGS prices have continued to hold steady while corn prices have continued to fall. The DDGS/KC soybean meal ratio was 0.57, up from 0.55 last week. This is the first time in 3 weeks the ratio fell. This was due to weaker soybean meal prices.
The EIA reported U.S. ethanol production averaged 1.078 million barrels per day (bpd) the week ending February 23. This was down 6,000 bpd week-over-week but up 75,000 bpd (7%) year-over-year. The 4-week average production was 1.070 million bpd, up 21,750 bpd from last week. A strong February lifted the 4-week average back up after lower production in the last two weeks of January had brought the average lower than normal.