Cash corn prices are firmer across the U.S. this week with basis widening to 19 cents under March futures. Prices for DDGS FOB ethanol plants are fractionally higher despite a $4/MT decrease in Kansas City soymeal prices. DDGS are priced at 107 percent of cash corn values, steady with last week and slightly above the three-year average. The DDGS/soymeal price ratio is 0.50, up from the prior week and above the three-year average.
DDGS markets are still quiet this week but prices are firming across the board. Barge CIF NOLA values are $1-2/MT higher this week for spot positions while April delivery quotes are up $3/MT. U.S. rail rates are continuing to firm as well, up $2/MT this week. FOB NOLA offers are mostly steady with a relatively flat forward curve while prices for 40-foot containers for Southeast Asia are up $1-2/MT this week. The average quote for February containers to Southeast Asia is $249/MT.