Cash corn prices are higher across the U.S. this week after the futures market rallied 15 cents from Monday’s lows. Prices for DDGS FOB ethanol plants are $1.50/MT higher, finding support from the continued strength in Kansas City soymeal prices. DDGS are priced at 106 percent of cash corn values, up from last week and equal to the three-year average of 106 percent. The DDGS/soymeal price ratio is 0.43, in-line with last week and slightly above the three-year average.
FOB Gulf DDGS prices are slightly ($2/MT) lower this week while U.S. rail rates have increased $3/MT on average. Asking prices for 40-foot containers to Southeast Asia are up $3/MT to $235/MT following last week’s active inquiries.