Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: Cash corn values were $3.44/bushel this week while FOB ethanol plant DDGS are down from last week to $129.74/MT. The DDGS/cash corn value is 96 percent, below the two-year average of 107 percent.
DDGS indications were mixed this week. Merchandisers report that securing FOB vessel Gulf cargos in the nearby is increasingly difficult; this week’s indication for June delivery is at $193/MT. U.S. rail rates have stabilized and are unchanged from last week.
On the international front, 40-foot containers to Southeast Asia are down $2/MT on average from last week, with indications for Indonesia up but all other indications down. Containers to South Korea, Taiwan and Japan are down as well.
