Cash corn values are steady at $4.21/bushel this week while FOB ethanol plant DDGS are up again to $149.46/MT. The DDGS/cash corn value is 90 percent, up from last week and below the two-year average of 107 percent.
Market stakeholders report that the market was quieted by the corn and soymeal volatility induced by last Friday’s USDA report and from this week’s U.S. holiday. DDGS indications for FOB vessel Gulf are down slightly from last week for nearby delivery while deferred shipment months are steady. Indications for 40-foot containers to Southeast Asia are down $3/MT this week even as merchandisers report active inquiries from Indonesia.