USDA reported DDGS prices averaged $206 per short ton in the January 19 National Weekly Ethanol Report. This was up slightly from $204 per short ton last week. DDGS prices showed these gains despite weaker corn and soybean meal prices.
The DDGS/cash corn ratio ticked back up to 1.31, relative to 1.27 the previous week. The ratio has been hovering around 1.3 since late November 2023, and is significantly higher than it has bene the past two years (1.00-1.15). The DDGS/KC soybean meal ratio was 0.56, up slightly from last week. After falling to around 0.45 in Nov 2023, this ratio has been consistently increasing week over week.
DDGS export prices were stable compared to last week. Small price movements below $3/MT occurred for Barge CIF New Orleans and FOB Vessel Gulf quotes but otherwise prices were consistent week over week.