Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: DDGS values are higher again this week as domestic demand remains strong and the rally in soymeal futures supports broader feedstuff values. Brokers note that trade has been wide-ranging this week, however, with early-day weakness on Thursday giving way to higher trade later in the day. The rail market remains strong with rates up $8/MT for November/December shipment and up $19/MT for Q1 2024.
FOB ethanol plant DDGS prices are $2/MT higher this week; the DDGS/cash corn ratio is firmer at 1.30 and above the three-year average of 1.03. The DDGS/KC soymeal ratio fell to 0.40 this week and remains below the three-year average of 0.51.
Barge CIF NOLA offers are up $6/MT for December this week and are up $10 for January and February. FOB NOLA offers are $7/MT higher for December and are up $8-10 for early 2024 positions. Prices for containerized DDGS to Southeast Asia rose $3/MT this week to average $330 for December shipment.
