Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: DDGS prices fell $3-5/MT this week amid continued weakness in commodity futures. Buyers have also adopted a “hand to mouth” procurement strategy, which is slowing trade. The DDGS/Kansas City soymeal ratio was lower at 0.50 this week, down from 0.51 last week and above the three-year average of 0.49. The DDGS/cash corn ratio was up from the prior week at 0.94 and below the three-year average of 1.06.
Barge CIF NOLA offers $10/MT lower, on average, this week while FOB Gulf offers are down $7-10/MT, depending on the shipment period. U.S. rail rates are down $5/MT this week while offers for containerized DDGS to southeast Asia remain spotty but are steady/$1 lower, averaging $407/MT.
