Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments: Cash corn values are $3.27/bushel this week while FOB ethanol plant DDGS fell $0.80/MT to $144.88. The DDGS/cash corn value is 113 percent, above the two-year average of 106 percent.
Merchandisers report continued steady demand from Indonesia, where interest in U.S. DDGS is expected to increase going forward. Additionally, demand from Bangladesh has remained steady. Indications for November delivery of 40-foot containers to Southeast Asia are down $2/MT this week from last week’s figure, while prices at the U.S. Gulf are up from last week. Generally speaking trade has been slow this week, as U.S. merchandisers and buyers from around the globe came together for USGC’s Export Exchange conference. To review discussion topics and check out conference highlights, please click here.