Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: DDGS values are steady to $3/MT lower this week amid another pullback in soymeal futures and continued strong ethanol run rates. Weaker feed values have worked against DDGS values while supplies continue to increase. Buyers are reportedly comfortable with current bookings and are waiting before moving on deferred months.
The DDGS/Kansas City soymeal ratio is at 0.50 this week, steady with last week and equal to the three-year average of 0.50. The DDGS/cash corn ratio edged is lower again this week at 1.06, below last week’s value and equal to the three-year average.
Barge CIF NOLA offers are steady to $1/MT lower this week as river navigation improved and barge freight continued to fall. FOB NOLA offers are down $1 for spot positions but steady or $3-4/MT higher for April/May. Offers for 40-foot containers to Southeast Asia are $10-12MT higher this week at $407/MT.
