Market Perspectives – February 23, 2023

Distiller’s Dried Grains with Solubles (DDGS)

DDGS Comments: DDGS values are $2-3/MT lower this week amid growing supplies and falling cash soymeal values. 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 1.08, below last week’s value and equal to the three-year average.

Barge CIF NOLA offers are $3/MT higher this week as barge freight rates rallied at mid-week while FOB NOLA offers steady for spot and Q2 positions. Offers for 40-foot containers to Southeast Asia are $10-15/MT lower this week at $390/MT.