Cash corn prices are higher across the U.S. this week with basis narrowing to 17 cents under March futures. Prices for DDGS FOB ethanol plants are $2/MT higher despite a $1.80/MT decrease in Kansas City soymeal prices. DDGS are priced at 108 percent of cash corn values, down from last week and above the three-year average. The DDGS/soymeal price ratio is 0.47, higher than the prior week and above the three-year average.
The U.S. DDGS market is mixed this week with Barge CIF NOLA and FOB Gulf values firmer while rail-delivered rates are down $2/MT. Merchandisers are reporting the forward curve for DDGS has flattened versus last week. FOB NOLA offers average $216/MT for January shipment while the average price for 40-foot containers to Southeast Asia stands at $246/MT. Buyers in Indonesia and the Philippines remain active, with offers for containerized shipments to those countries up $2-3/MT this week.