Cash corn prices are steady across the U.S. this week with basis narrowing to 9 cents under March futures. Prices for DDGS FOB ethanol plants are down $1/MT with falling soymeal prices pressuring the market. Kansas City cash soymeal prices are down $2/MT this week and soymeal futures have sustained larger losses. DDGS are priced at 108 percent of cash corn values, up from last week and slightly above the three-year average. The DDGS/soymeal price ratio is 0.50, steady with the prior week and above the three-year average.
DDGS markets are still quiet this week and prices are slightly lower. Better weather and easier logistics have allowed Barge CIF NOLA prices as well as U.S. rail rates to soften this week. FOB NOLA offers stand at $214/MT for February shipment while 40-foot containers to Southeast Asia are offered at $246/MT.