Market Matters Blog
DTN Weekly Average DDG Price Sharply Higher
OMAHA (DTN) The average price for domestic distillers dried grains (DDG) from the 40 locations DTN contacted with spot offers for the week ended Jan. 7 was $217 per ton, up $12 from two weeks ago. DDG prices have been pushing higher as supplies in some states are tight. DDG prices and feed ingredients are also on the rise due to higher soybean and soymeal prices. The cash corn price has also increased substantially in the last month with the DTN National Corn Index as of Jan. 7 up 70 cents higher versus one month ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Jan. 7 was 122.99%, versus the five-year average of 109%. The value of DDG relative to soybean meal was 49.54% versus the three-year average of 42%. The cost per unit of protein for DDG was $8.04, compared to the cost per unit of protein for soybean meal at $9.22.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
In their weekly export DDGS update, U.S. Grains Council noted that brokers and merchandisers report that the DDGS export market has been "thin and illiquid' this week amid the CBOT rally and post-holiday trading lulls. "Despite thin trade, offers are sharply higher following the broader commodity rally. Barge CIF NOLA rates are up $23/MT for spot shipment while FOB Gulf offers are $30/MT higher for January shipment at $302/MT. U.S. rail rates are $12/MT higher while 40-foot containers to southeast Asia are up $7/MT at $335 for January-March shipment."
The U.S. Census Bureau reported on Jan. 7 that U.S. exports of DDGS totaled 927,604 mt in November, down from 951,500 mt in October, but up 2% from a year ago. Mexico was the top destination in November, taking 15% of U.S. exports and was followed by Vietnam and Turkey. For the first 11 months of 2020, U.S. exports of DDGS were up 1% from a year ago.
NOTE: All prices listed below can change at any time and are subject to confirmation from seller.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 1/7/2021 | 12/23/2020 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $235 | $235 | $0 | |
| Wet | $118 | $118 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri | Dry | $250 | $235 | $15 | |
| Wet | $125 | $115 | $10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $215 | $205 | $10 | |
| Indiana | Dry | $205 | $198 | $7 | |
| Iowa | Dry | $210 | $195 | $15 | |
| Michigan | Dry | $205 | $198 | $7 | |
| Minnesota | Dry | $215 | $200 | $15 | |
| North Dakota | Dry | $205 | $195 | $10 | |
| New York | Dry | $230 | $225 | $5 | |
| South Dakota | Dry | $215 | $200 | $15 | |
| E Energy Adams, Adams, Nebraska | |||||
| Nebraska | Dry | $236 | $225 | $11 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $215 | $205 | $10 | |
| Iowa | Dry | $212 | $205 | $7 | |
| Michigan | Dry | $215 | $205 | $10 | |
| Minnesota | Dry | $207 | $200 | $7 | |
| Missouri | Dry | $250 | $245 | $5 | |
| Ohio | Dry | $210 | $205 | $5 | |
| South Dakota | Dry | $212 | $205 | $7 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $225 | $184 | $41 | |
| Wet | $0 | $0 | $0 | ||
| Illinois | Dry | $223 | $210 | $13 | |
| Nebraska | Dry | $220 | $177 | $43 | |
| Wet | $0 | $0 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $215 | $205 | $10 | |
| Indiana | Dry | $215 | $200 | $15 | |
| Iowa | Dry | $205 | $195 | $10 | |
| Michigan | Dry | $210 | $200 | $10 | |
| Minnesota | Dry | $210 | $195 | $15 | |
| Nebraska | Dry | $225 | $210 | $15 | |
| New York | Dry | $275 | $240 | $35 | |
| North Dakota | Dry | $220 | $210 | $10 | |
| Ohio | Dry | $210 | $200 | $10 | |
| South Dakota | Dry | $210 | $190 | $20 | |
| Wisconsin | Dry | $205 | $190 | $15 | |
| Valero Energy Corp, San Antonio, Texas | |||||
| Indiana Subject | Dry | $220 | $220 | $0 | |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Ohio Subject | Dry | $215 | $215 | $0 | |
| South Dakota | Dry | $0 | |||
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $290 | $280 | $10 | |
| *Prices listed per ton. | |||||
| Weekly Average | $217 | $205 | $12 | ||
| The weekly average prices above reflect only those companies DTN | |||||
| collects spot prices from. States include: Missouri, Iowa, Nebraska, | |||||
| Kansas, Illinois, Minnesota, North Dakota, South Dakota, Michigan, | |||||
| Wisconsin and Indiana. Prices for Pennsylvania, New York and | |||||
| California are not included in the averages. | |||||
| VALUE OF DDG VS. CORN & SOYBEAN MEAL | |||
| Settlement Price: | Quote Date | Bushel | Short Ton |
| Corn | 1/7/2021 | $4.9400 | $176.43 |
| Soybean Meal | 1/7/2021 | $438.00 | |
| DDG Weekly Average Spot Price | $217.00 | ||
| DDG Value Relative to: | 1/7 | 12/23 | |
| Corn | 122.99% | 128.34% | |
| Soybean Meal | 49.54% | 48.67% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.04 | $7.59 | |
| Soybean Meal | $9.22 | $8.87 | |
| Notes: | |||
| Corn and soybean prices take from DTN Market Quotes. DDG price | |||
| represents the average spot price from Midwest companies | |||
| collected on Thursday afternoons. Soybean meal cost per unit | |||
| of protein is cost per ton divided by 47.5. DDG cost per unit | |||
| of protein is cost per ton divided by 27. | |||
Mary Kennedy can be reached at mary.kennedy@dtn.com
Follow her on Twitter @MaryCKenn
(c) Copyright 2021 DTN, LLC. All rights reserved.
Comments
To comment, please Log In or Join our Community .