INSIDE THIS ISSUE 1. General Comments 2. DDGS Reference Prices 3. Ocean Freight Markets 3. Latest Export Figures (Calendar and Crop Year) 6. FOB US Gulf DDGS & Corn Prices 7. Council News DDGS/cash corn value stands at 106 percent of its two-year average. August 16 th, 2018. General Comments: The release of USDA s WASDE report last week generated significant price movement and pushed cash corn values down; they ve regained some of those losses as of today s close. Meanwhile, FOB ethanol plant DDGS values are on their 5th straight week of gains, up nearly $5 from last Friday s close. Note that DDGS will see increased demand from domestic cattle feeders into the Q4 2018 and Q1 2019 period. The DDGS/cash corn value stands at 106 percent of its two-year average. DDGS at the Gulf fell this week as markets softened somewhat in response to the recent WASDE report. This dynamic has Asian buyers, among others, showing renewed interest. DDGS FOB Gulf are at $208 for September shipment. Container rates to Southeast Asia are down on average $7/MT from last week, while container rates to Bangladesh and Myanmar are mostly unchanged. Container rates to Japan are down $4/MT from last week and stand at $247/MT for September shipment. Merchandisers reported sales to Indonesia and Vietnam..
DDGS reference prices as per survey report (current week): DDGS Price Table: August 16, 2018 (USD/MT) (Quantity, availability, payment and delivery terms vary) Delivery Point Quality Min. 35% Pro-fat combined September October November Barge CIF New Orleans 189 192 193 FOB Vessel GULF 208 211 214 Rail delivered PNW 216 217 219 Rail delivered California 219 221 223 Mid-Bridge Laredo, TX 218 220 220 FOB Lethbridge, Alberta 197 199 202 40 ft. Containers to South Korea (Busan) 239 240 246 40 ft. Containers to Taiwan (Kaohsiung) 239 240 245 40 ft. Containers to Philippines (Manila) 249 250 253 40 ft. Containers to Indonesia (Jakarta) 243 243 248 40 ft. Containers to Malaysia (Port Kelang) 244 244 251 40 ft. Containers to Vietnam (HCMC) 250 251 256 40 ft. Containers to Japan (Yokohama) 247 247 255 40 ft. containers to Thailand (LCMB) 242 242 248 40 ft. Containers to China (Shanghai) 240 242 244 40 ft. Containers to Bangladesh (Chittagong) 286 286 289 40 ft. Containers to Myanmar (Yangon) 283 284 286 KC Rail Yard (delivered ramp) 198 198 200 Elwood, IL Rail Yard (delivered ramp) 198 199 201 Source: WPI, *Prices are based on offer indications only; terms of delivery, payment and quality may vary from one supplier to another, impacting the actual value of the price
Ocean Freight Market References: Bulk Freight Indices for HSS Heavy Grain, Sorghum and Soybeans* Route and Vessel Size Change Current from Week Previous (USD/MT) Report Remarks 55,000 U.S. Gulf-Japan $45.00 Up $1.00 Handymax at $46.00/MT 55,000 U.S. PNW-Japan $24.75 Up $0.50 Handymax at $25.00/MT 65,000 U.S. Gulf-China $44.00 Up $1.00 PNW to China $24.00 Up $0.50 North or South China 25,000 U.S. Gulf-Veracruz, Mexico $16.75 Up $0.25 3,000 MT daily discharge rate 35-40,000 U.S. Gulf-Veracruz, Deep draft and 6,000 MT/day $14.75 Up $0.25 Mexico discharge rate. 25/35,000 U.S. Gulf-East Coast $20.00 Up $0.25 West Coast Colombia at Colombia $28.50 From Argentina $34.25 Up $0.25 40-45,000 U.S. Gulf-Guatemala $29.00 Up $0.25 Acajutla/Quetzal-8,000 out 26-30,000 U.S. Gulf-Algeria $32.75 Up $1.00 8,000 MT daily discharge $34.25 Up $1.00 3,000 MT daily discharge 25-30,000 US Gulf-Morocco $35.25 Up $1.00 Discharge rate: 5,000 55,000 U.S. Gulf-Egypt $29.50 Up $1.00 55,000-60,000 MT PNW to Egypt $28.75 Up $1.00 Russia Black Sea-Egypt $16.00 60-70,000 U.S. Gulf-Europe- Rotterdam $21.75 Unchanged Handymax at +$1.75 more Brazil, Santos-China $36.25 Up $0.25 54-59,000 Supramax-Panamax Itacoatiara Port up River $35.50 Up $0.25 60-66,000 Post Panamax Amazonia North Brazil-China $39.00 Up $0.25 56-60,000 Argentina-China $40.75 Up $0.25 Upriver with BB top-off $42.50 Latest Export Figures from GATS in Metric Tons (MT): ***JUNE 2018*** Notes: 1. Data Source: Department of Commerce, U.S. Census Bureau, Foreign Trade Statistics 2. (*) denotes a country that is a summarization of its component countries. 3. Users should use cautious interpretation on QUANTITY reports using mixed units of measure. QUANTITY line items will only include statistics on the units of measure that are equal to, grouped commodities. Or are able to be converted to, the assigned unit of measure of the grouped commodities. 4. Product Group : BICO-HS10
CALENDAR YEAR EXPORT DATA: COUNTRY 2015 YR 2016 YR 2017 YR Jan/Jun 2017 Jan/Jun 2018 % Change Net Change World Total 12,694,806 11,311,616 11,028,385 5,516,088 5,666,761 3 150,673 Mexico 1,650,235 1,907,573 2,184,385 1,081,864 1,031,513-5 -50,351 Turkey 207,914 789,613 1,417,099 834,075 576,363-31 -257,712 Korea, South 635,197 889,319 962,652 461,566 580,907 26 119,341 Thailand 396,356 753,381 738,413 347,227 484,270 39 137,043 Indonesia 229,315 355,354 728,750 282,557 324,591 15 42,034 Canada 512,229 518,272 707,213 372,634 330,640-11 -41,994 Japan 241,031 314,561 473,528 238,132 223,991-6 -14,141 China 6,461,071 2,341,650 371,667 309,537 96,130-69 -213,407 Ireland 248,281 255,958 347,360 170,674 171,999 1 1,325 Vietnam 650,336 1,153,347 308,278 2,012 550,471 27259 548,459 Spain 150,743 195,132 297,687 191,409 101,666-47 -89,743 Israel(*) 124,148 176,902 257,972 141,160 162,616 15 21,456 Taiwan 196,053 219,575 255,024 120,712 99,825-17 -20,887 Morocco 110,080 165,841 250,419 128,051 104,071-19 -23,980 United Kingdom 152,177 162,250 213,394 123,296 62,362-49 -60,934 Colombia 123,892 181,762 207,653 97,914 98,212 0 298 New Zealand(*) 26,922 71,408 183,857 47,810 79,318 66 31,508 Egypt 95,482 141,440 138,414 68,201 120,074 76 51,873 Philippines 106,483 161,224 137,961 73,233 73,538 0 305 Bangladesh 17,547 35,602 117,010 37,501 70,020 87 32,519 Costa Rica 83,258 84,896 89,413 46,404 40,150-13 -6,254 Malaysia 36,884 56,945 74,929 45,115 35,183-22 -9,932 El Salvador 60,404 57,647 62,499 35,813 37,115 4 1,302 Cambodia 24,087 30,034 57,291 23,540 24,344 3 804 Saudi Arabia - 387 57,291 25,248 4,244-83 -21,004 Portugal - 17,550 55,661 36,354 10,345-72 -26,009 Guatemala 42,817 46,684 52,224 30,883 25,417-18 -5,466 Honduras 40,016 42,338 44,618 24,967 23,508-6 -1,459 Pakistan 3,912 65,239 42,510 18,967 418-98 -18,549 Burma 5,597 24,599 36,836 14,281 31,976 124 17,695 Sri Lanka 1,951 5,835 33,015 14,627 8,384-43 -6,243 CROP YEAR EXPORT DATA:
COUNTRY 2015 YR 2016 YR 2017 YR Sept/Jun 2016/17 Sept/Jun 2017/18 % Change Net Change World Total 11,626,894 11,633,148 11,058,209 9,299,813 9,420,662 1 120,849 Mexico 1,591,540 1,900,979 2,063,793 1,691,947 1,762,188 4 70,241 Turkey 344,152 695,540 1,364,617 1,107,158 901,928-19 -205,230 Korea, South 620,871 822,548 968,190 839,557 953,360 14 113,803 Thailand 405,415 582,253 786,940 683,897 772,413 13 88,516 China 5,366,088 3,342,076 735,138 718,918 142,040-80 -576,878 Canada 548,366 548,719 669,267 549,394 545,346-1 -4,048 Indonesia 230,847 330,837 512,975 393,163 650,972 66 257,809 Vietnam 552,175 985,117 492,839 488,507 852,405 74 363,898 Japan 295,126 295,280 427,280 344,020 376,127 9 32,107 Spain 83,886 202,981 335,152 297,374 170,166-43 -127,208 Ireland 260,627 269,896 303,244 263,225 308,666 17 45,441 Taiwan 204,112 209,559 262,386 205,083 176,834-14 -28,249 Israel(*) 103,122 202,466 240,468 193,522 232,482 20 38,960 United Kingdom 124,228 164,114 214,781 191,615 129,294-33 -62,321 Morocco 100,794 143,042 214,223 182,735 194,951 7 12,216 Colombia 111,925 163,747 209,008 168,386 167,329-1 -1,057 Philippines 106,789 144,381 151,509 136,033 122,790-10 -13,243 New Zealand(*) 49,128 32,647 151,075 91,969 156,259 70 64,290 Egypt 125,295 84,278 148,755 132,272 173,804 31 41,532 Bangladesh 12,043 27,272 86,822 58,781 121,488 107 62,707 Costa Rica 78,482 93,507 82,722 69,117 69,554 1 437 Malaysia 39,132 42,184 82,100 72,740 55,637-24 -17,103 El Salvador 49,624 66,430 62,676 51,921 53,046 2 1,125 Guatemala 46,420 48,087 55,705 46,325 37,378-19 -8,947 Portugal 3,300 14,250 48,953 39,654 20,353-49 -19,301 Cambodia 23,750 26,930 48,623 38,837 48,309 24 9,472 Saudi Arabia - - 48,599 25,635 13,323-48 -12,312 Pakistan 5,205 61,096 48,398 24,855 418-98 -24,437 Honduras 39,016 43,510 43,244 37,403 37,318 0-85 Burma 3,294 14,065 35,882 28,256 46,905 66 18,649 Peru 14,664-31,627 27,304 20,255-26 -7,049 Sri Lanka 2,874 4,538 23,422 17,201 20,551 19 3,350
9/1/2015 10/1/2015 11/1/2015 12/1/2015 1/1/2016 2/1/2016 3/1/2016 4/1/2016 5/1/2016 6/1/2016 7/1/2016 8/1/2016 9/1/2016 10/1/2016 11/1/2016 12/1/2016 1/1/2017 2/1/2017 3/1/2017 4/1/2017 5/1/2017 6/1/2017 7/1/2017 8/1/2017 9/1/2017 10/1/2017 11/1/2017 12/1/2017 1/1/2018 2/1/2018 3/1/2018 4/1/2018 5/1/2018 6/1/2018 7/1/2018 8/1/2018 9/1/2018 DOLLARS PER METRIC TON FOB U.S.A. Gulf DDGS & Corn prices (MT): $400.00 $350.00 FOB US GULF DDGS & CORN PRICES Corn FOB Gulf Spot Delivery DDGS FOB Gulf Spread FOB DDGS VS CORN Linear (Corn FOB Gulf Spot Delivery) $300.00 $250.00 $208.00 $200.00 $172.92 $150.00 $100.00 $50.00 $35.08 $0.00 -$50.00 -$100.00 DATE
Council News: