Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: Cash corn values are $3.46/bushel this week while FOB ethanol plant DDGS are $171.69/MT, up from last week. The DDGS/cash corn value is 126 percent, above the two-year average of 106 percent. Merchandisers reported a quiet week as prices remained mostly steady in advance of the holiday season; the expectation is that the market will be slow through the end of the year. This week, sales were reported to Indonesia and Vietnam for February 2019 delivery.
DGGS at the U.S. Gulf are at $223/MT for January 2019 delivery. On average, 40-foot containers to Southeast Asian destinations were up $3/MT this week from last week. Prices for 40-foot containers to Malaysia ($250/MT) and Vietnam ($258/MT) are up $4/MT from last week’s figures. Prices for other international routes are firm to slightly higher.