U.S. DDGS prices are steady this week amid a slight increase in production and support from firmer soymeal futures. Support could come soon for the domestic market with ethanol plants beginning seasonal spring maintenance. The DDGS/cash corn ratio is 1.03, steady with the prior week and below the three-year average of 1.10. Similarly, the DDGS/Kansas City soymeal ratio is unchanged at 0.49 and above the three-year average of 0.42.
On the export front, markets are slightly weaker with limited news on fundamental drivers. Barge CIF NOLA values are down $13/MT for Q2 positions while FOB NOLA offers are down $15/MT. Prices for 40-foot containers to Southeast Asia are mostly steady this week at $343/MT for May and June shipment. Industry sources say general rate increases (GRIs) are planned for the container market at the end of April and likely again at the end of May.