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Market Perspectives – August 30, 2018

Contents

  1. Chicago Board of Trade Market News
  2. CBOT December Corn Futures
  3. U.S. Weather/Crop Progress
  4. U.S. Export Statistics
  5. FOB
  6. Distiller's Dried Grains with Solubles (DDGS)
  7. Country News
  8. Ocean Freight Markets and Spread
  9. Ocean Freight Comments
  10. Interest Rates

Distiller’s Dried Grains with Solubles (DDGS)

DDGS Comments: Corn prices fell on U.S. production expectations and good weather, adding to a generally bearish market tone. However, FOB ethanol plant DDGS values were up again to $136.39, their 7th straight week of gains, as ethanol production steadied. The DDGS/cash corn value stands at 106 percent of its two-year average. Domestic demand for DDGS in feeding rations remained normal as beneficial rains have kept cattle on green pasture.

DDGS at the Gulf fell again this week to $203/MT (September delivery). Prices for 40-ft. containers to SE Asia were down $4/MT on average, while containers to South Korea and Taiwan fell $5/MT and $4/MT, respectively. U.S. rail rates were mostly unchanged.

Asian buyers are active as prices become more attractive; merchandisers reported sales to Indonesia and Vietnam for September. Container availability is plentiful depending on the carrier.