Bull markets in multiple agricultural commodities are offering broad support to feed grains and feedstuffs prices. FOB ethanol plant prices are up $2/MT this week with rallies in corn and soymeal offering outside support. DDGS are valued at 112% of cash corn, down from the prior week and above the three-year average of 109%. Kansas City soymeal values are $14/MT higher this week with CBOT futures and export interest supporting prices. DDGS are valued at 40% of Kansas City soymeal, down from last week and below the three-year average of 42%.
Prices for export DDGS are wide-ranging but mostly higher so far this week. Barge CIF NOLA offers are up $14/MT for November shipment while FOB Gulf offers are $10/MT higher for spot positions. U.S. rail rates are averaging $14/MT higher for November while containerized DDGS destined for Southeast Asia are firmer as well. Market sources report that Asian buying interest has picked up in the last week as some end users remain short-bought. Containerized DDGS for Southeast Asia are up $17/MT for spot positions and are averaging $271/MT this week.