Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: Cash corn prices are lower across the U.S. this week, averaging $4.16/bushel while FOB ethanol plant DDGS prices are down slightly at $147.34/MT. DDGS are priced at 90 percent of cash corn values, up from last week but below the two-year average of 107 percent. Soymeal prices are lower as well, reaching $340.40/MT this week, which puts DDGS prices at 43 percent of soymeal.
Prices for DDGS CIF NOLA barge and FOB U.S. Gulf are lower this week as traders keep the ethanol co-product competitive with lower corn and soymeal values. Merchandisers are reporting a significant increase in international buying interest as corn futures have stabilized in recent days. Exporters note Taiwan, Korea, the Philippines, Indonesia, Vietnam, and Bangladesh have been active markets for both inquiries and sales. Prices for 40-foot containers to Southeast Asia are averaging $244/MT, steady with last week’s values.
