Distiller’s Dried Grains with Solubles (DDGS)
DDGS Comments:DDGS values steady/$2 lower this week amid a pullback in soybean meal and other feedstuffs values. Despite lower ethanol run rates, supplies remain ample as buyers have filled near-term needs. The DDGS/Kansas City soymeal ratio rose to 0.56 this week, above the three-year average of 0.49, while the DDGS/cash corn ratio increased to 1.05 this week, below the three-year average of 1.06.
On the export market, Barge CIF NOLA offers are steady this week as rising barge freight offsets lower product values. FOB NOLA offers are down $2-3/MT for spot positions and steady for December or January shipment. The pullback in ocean freight rates left the containerized DDGS market down $4/MT with product destined for Southeast Asia averaging $402/MT this week.
