Cash corn prices are lower across the U.S. this week, with basis widening out to near its five-year average value. Prices for DDGS FOB ethanol plants are pulling back from their recent rally, moving $18/MT lower this week while Kansas City soymeal prices have fallen $4.50/MT. DDGS are priced at 176 percent of cash corn values, down from last week and falling from five-year highs. The DDGS/soymeal price ratio is 0.60, down from the prior week and above the three-year average of 0.42.
DDGS prices are lower this week with merchandisers reporting that the CIF market has been active during the past two days amid a decrease in asking prices. The FOB NOLA market is quiet as buyers have mostly filled near-term needs. FOB NOLA offers are down $6/MT for spot shipment at $214. U.S. rail rates are down similar amounts. Prices for 40-foot containers to Southeast Asia have been mostly steady so far this week, with offers for May shipment rising $1/MT to $274 while deferred positions are flat.