Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments
USDA reported DDGS prices averaged $193 per short ton in the March 1 National Weekly Ethanol Report. This was down $7 per short ton from the previous week, and one of the largest week-over-week movements in two months.
The DDGS/cash corn ratio was 1.31, down slightly from 1.40 last week. The DDGS/KC soybean meal ratio was 0.55, down from 0.57 last week.
The EIA reported U.S. ethanol production averaged 1.057 million barrels per day (bpd) the week ending March 1. This was down 21,000 bpd (-2%) week-over-week but up 47,000 bpd (5%) year-over-year. The 4-week average production was 1.076 million bpd, up 6,000bpd from last week. A strong February lifted the 4-week average back up after lower production in the last two weeks of January brought the average lower than normal.
