Cash corn values were $3.51/bushel last week while FOB ethanol plant distiller’s dried grains with solubles (DDGS) were $151.69/MT, down from the week prior, the U.S. Grains Council (USGC) reported.
USGC said the DDGS/cash corn value is 110%, above the two-year average of 107%.
“DDGS indications were mostly unchanged this week on the heels of the Lunar New Year celebrations,” the organization reported. “Forty-foot containers to Southeast Asia (March delivery) were unchanged. Prices at the U.S. Gulf ticked up as barge logistics continue to complicate nearby delivery, and U.S. rail rates were up $1/MT on average.”
With Asian buyers returning to the market following the holiday lull, USGC said merchandisers have reported an uptick in business from especially Southeast Asia, including Vietnam, as well as interest from Egypt and the Mediterranean.