Cash corn values are $3.43/bushel this week while FOB ethanol plant DDGS are up from last week to $151.55/MT. The DDGS/cash corn value is 112 percent, above the two-year average of 107 percent.
DDGS prices increased from this week compared to last for most of the routes indicated in this report’s DDGS price table. Western U.S. rail markets (Rail delivered PNW) jumped by $7/MT to $225/MT for April delivery. FOB vessel U.S. Gulf for April delivery was up $4/MT from last week to $221/MT. Heavy snow followed by rain – and then more snow – has resulted in widespread flooding in the U.S. Western Corn Belt and Midwest, hampering product movement by rail and river. Overall challenging logistics are expected to weigh on the market for the near-term.
Internationally, 40-foot containers to Southeast Asia (April delivery) were up $3/MT for April delivery, on average.