DDGS Weekly Market Report – March 9, 2023

DDGS values are steady/$2/MT lower this week as the drop in corn futures pressures feedstuff values. Still, DDGS offers have held up better than other markets as the feed ingredient remains increasingly competitive against soybean meal. Trade is reported as somewhat slow this week but buyers are reportedly getting more interested in moving on deferred months.

The FOB ethanol plan DDGS/cash corn price ratio rose to 1.16 this week, up from 1.14 last week and above the three-year average of 1.06. The DDGS/Kansas City soymeal ratio also ticked higher and hit 0.51, up from last week and the three-year average of 0.5.

Barge CIF NOLA offers are steady for spot positions but $3-4/MT lower for April and May despite increases in barge freight. FOB NOLA offers are also steady for March/FH April shipment but $1-2 lower for LH April and May. This week’s offers for 40-foot containers to Southeast Asia are steady/$1 lower and average $392 for March/April shipment.