Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: DDGS values are higher this week with the rallies in corn and soymeal futures adding support. Ethanol output rose last week and DDGS supplies are ample, but stronger pricing across the feedstuffs landscape is pushing offers higher. The DDGS/cash corn ratio is down from last week at 1.01 and below the three-year average of 1.02 while the DDGS/Kansas City soymeal ratio is down at 0.44 and below the three-year average of 0.50.
Barge CIF NOLA DDGS offers are higher this week with spot demand pushing August quotes up $19/MT while September/October offers are up $12-18/MT. FOB NOLA offers are similarly higher while FOB NOLA offers are higher as well with spot positions up $16 to $278/MT and deferred positions rising $10 from last week’s values. U.S. rail rates are higher as well with noted firmness in the spot market (up $17/MT) while offers for 40-foot containers to Southeast Asia are up $12/MT at $320 for August shipment and are up $8-9/MT for September-October positions.
