Cash corn values were steady with last week while FOB ethanol plant DDGS are down from last week to $149.00/MT. The DDGS/cash corn value is 112 percent, above the two-year average of 107 percent.
DDGS values continued last week’s pattern and were down across the board for indications offered in this report. DDGS indications for U.S. rail rates, including rates to Mexico and Canada, fell this week from last week. CIF barge rates in New Orleans fell as well (-$6/MT) and FOB vessel U.S. Gulf indications were down for both the nearby and deferred month(s) delivery. FOB vessel U.S. Gulf is at $207/MT for May delivery.
Internationally, 40-foot containers to Southeast Asia were down $5/MT on average for May delivery. Merchandisers expect an uptick in buying interest amid the current period of attractive prices.