Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: DDGS prices are steady to higher from last week. Soymeal continued to rally with Kansas City soymeal up again, likely encouraging the inclusion of more DDGS into domestic feed rations. Problems with river congestion are impacting nearby prices and complicating the outlook for prices into the April-May timeframe.
Year-end data for 2017 revealed U.S. exports of approximately 11 million metric tons to over 50 countries. Exports in January 2018 were up substantially compared to January 2017, continuing a trend of increasing exports that began in December 2017. Lately, merchandisers report a flurry of interest from especially Asian buyers starting late last week and continuing this week. As such, prices for Asian destinations have firmed up – on average DDGS destined for Southeast Asia increased $6/MT this week from last. Containers to Thailand led the way, up $8.