Cash corn values are $3.49/bushel this week while FOB ethanol plant DDGS are $160.01/MT, down from last week. The DDGS/cash corn value is 116 percent, above the two-year average of 107 percent.
DDGS indications experienced a correction downward from last week to this week, even as fundamentals lead some to expect steady/flat prices. With lower prices has come renewed interest, especially from Asian buyers. Merchandisers reported sales to Indonesia, South Korea and Vietnam. DDGS at the U.S. Gulf are $215/MT, decreasing to $212/MT into deferred months. On average, 40-foot containers to Southeast Asian destinations were down $8/MT this week from last week. Following the decrease in FOB ethanol plant DDGS values, U.S. rail rates are down as well.