DDGS prices fell $5/MT this week amid slow trade and weakness in corn futures. While grain markets moved lower ahead of and following the USDA’s reports on Thursday, the soymeal market rallied sharply this week on tightening physical supplies, which lent support to the DDGS market. The soymeal strength offset some of the weakness created by lower corn values and kept the co-product market from falling further. The DDGS/Kansas City soymeal ratio was lower at 0.51 this week, down from 0.54 last week and above the three-year average of 0.49. The DDGS/cash corn ratio was steady with the prior week at 0.88 and below the three-year average of 1.06.
Barge CIF NOLA offers $15/MT lower, on average, this week while FOB Gulf offers are down $10-14/MT, depending on the shipment period. Offers for containerized DDGS to southeast Asia remain spotty but are generally down $4-7/MT this week, averaging $408/MT.