Cash corn values were $3.26/bushel this week while FOB ethanol plant DDGS are down from last week to $142.75/MT. The DDGS/cash corn value is 111 percent, above the two-year average of 107 percent.
DDGS indications are down this week compared to last, especially for international container rates. For example: 40-foot containers to Southeast Asian destinations are down $8/MT, on average; 40-foot containers to Japan saw the sharpest drop from this week to last and stand at $228/MT for May delivery. Merchandisers have reported increased interested and buying from South Korean and Vietnamese buyers, among others.
Additionally, CIF barge rates in New Orleans fell $7/MT and FOB vessel U.S. Gulf indications were down $5/MT for nearby delivery to $198/MT.