Cash corn prices are 3 cents/bushel lower across the U.S. this week with basis slightly firmer despite the ongoing harvest. Prices for DDGS FOB ethanol plants are up $2/MT with Kansas City soymeal prices steady with last week’s values. DDGS are priced at 106 percent of cash corn values, steady with last week and equal to the three-year average. The DDGS/soymeal price ratio is 0.44, steady with last week and slightly above the three-year average.
Barge CIF NOLA prices are $7/MT higher this week while FOB Gulf offers are up $2-3/MT for November/December shipment. Rates for DDGS delivered via rail to the PNW are $3/MT higher this week. Merchandisers report active inquiries from Southeast Asia, with aggressive purchases from Indonesia and some sales to Thailand. Vietnamese inquiries have been active, but bids are lower than exporters’ firm asking prices. The average price for 40-foot containers to Southeast Asia is down $1/MT to $236/MT for November shipment.