Cash corn values are $3.51/bushel this week while FOB ethanol plant DDGS are $151.69/MT, down from last week. The DDGS/cash corn value is 110 percent, above the two-year average of 107 percent.
DDGS indications were mostly unchanged this week on the heels of the Lunar New Year celebrations. 40-foot containers to Southeast Asia (March delivery) were unchanged. Prices at the U.S. Gulf ticked up as barge logistics continue to complicate nearby delivery, and U.S. rail rates were up $1/MT on average.
With Asian buyers returning to the market following the holiday lull, merchandisers report an uptick in business from especially Southeast Asia, including Vietnam. Additional interest from Egypt and the Mediterranean is being reported as well.