Cash corn prices are higher across the U.S. this week, with basis remaining firm at 25 cents under July futures despite the futures market rally on Thursday. Prices for DDGS FOB ethanol plants are down $7.50/MT while Kansas City soymeal prices are down $2.50/MT with spot futures having made new contract lows this week. DDGS are priced at 133 percent of cash corn values, down from last week and falling from five-year highs. The DDGS/soymeal price ratio is 0.49, down from the prior week and above the three-year average of 0.42.
DDGS prices are slightly higher this week as international demand is picking up. Barge CIF NOLA offers are steady/$5 higher while FOB NOLA offers are up $2-3/MT. U.S. rail rates have ticked slightly higher as well. Prices for 40-foot containers to Southeast Asia are down this week, averaging $232/MT.