Cash corn values were $3.39/bushel this week while FOB ethanol plant DDGS are down from last week to $132.39/MT. The DDGS/cash corn value is 99 percent, below the two-year average of 107 percent.
DDGS indications were mostly down this week; containers to Southeast Asia were down $6/MT on average. Markets are working to buy demand and keep DDGS competitive against soymeal.
According to data USDA-FAS GATS data released by the U.S. Census Bureau, U.S. DDGS exports were up 6 percent in March 2019, compared to the same month in 2018. Turkey was the top buyer in March 2019 (162,660 MT), followed by Mexico, South Korea, Vietnam and Indonesia.