DDGS Weekly Market Report – November 16, 2023

DDGS values are higher again this week as domestic demand remains strong and the rally in soymeal futures supports broader feedstuff values. Brokers note that trade has been wide-ranging this week, however, with early-day weakness on Thursday giving way to higher trade later in the day. The rail market remains strong with rates up $8/MT for November/December shipment and up $19/MT for Q1 2024.

FOB ethanol plant DDGS prices are $2/MT higher this week; the DDGS/cash corn ratio is firmer at 1.30 and above the three-year average of 1.03. The DDGS/KC soymeal ratio fell to 0.40 this week and remains below the three-year average of 0.51.

Barge CIF NOLA offers are up $6/MT for December this week and are up $10 for January and February. FOB NOLA offers are $7/MT higher for December and are up $8-10 for early 2024 positions. Prices for containerized DDGS to Southeast Asia rose $3/MT this week to average $330 for December shipment.