Market Matters Blog
DTN DDG Weekly Update
OMAHA (DTN) -- Distillers dried grains average spot prices from the 40 locations DTN contacted were $8 per ton higher, at $154 per ton for the week ended Dec. 6, versus one week ago. Prices have moved higher four weeks in a row, in part due to an increase in cold weather demand and tighter supplies that continue to pull DDG prices higher.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Dec. 6 was at 115.91%. The value of DDG relative to soybean meal was at 49.68%. The cost per unit of protein for DDG was $5.70, compared to the cost per unit of protein for soybean meal at $6.53. The DDG value to cash corn is currently above the two-year average and the cost per unit compared to soymeal moved higher this past week.
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In their weekly price update, U.S. Grains Council said that, "This week, merchandisers reported sales to Indonesia and Vietnam as those markets continue to stand out as solid destinations for U.S. DDGS. DDGS at the U.S. Gulf are at $215 per metric ton (MT) for December delivery and increasing into deferred months. On average, 40-foot containers to southeast Asian destinations were up $6/MT this week from last week."
The U.S. Census Bureau said Thursday that U.S. exports of DDGS totaled 1,018,097 mt in October, a little less than September, but up 1% from a year ago. U.S. DDGS continue to find broad interest with Mexico, Vietnam, Indonesia and Thailand listed as the top four destinations in October. The first 10 months of 2018 showed exports of U.S. DDGS up 9% from a year ago.
ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
COMPANY | STATE | 12/6/2018 | 11/29/2018 | ||
Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
Missouri | Dry | $175 | $160 | $15 | |
Modified | $88 | $82 | $6 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Missouri Subject | Dry | $175 | $165 | $10 | |
Wet | $85 | $80 | $5 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $160 | $150 | $10 | |
Indiana | Dry | $155 | $145 | $10 | |
Iowa | Dry | $155 | $145 | $10 | |
Michigan | Dry | $150 | $140 | $10 | |
Minnesota | Dry | $155 | $145 | $10 | |
North Dakota | Dry | $165 | $155 | $10 | |
New York | Dry | $165 | $155 | $10 | |
South Dakota | Dry | $155 | $145 | $10 | |
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
Kansas | Dry | $165 | $155 | $10 | |
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $147 | $143 | $4 | |
Iowa | Dry | $160 | $152 | $8 | |
Michigan | Dry | $145 | $140 | $5 | |
Minnesota | Dry | $157 | $147 | $10 | |
Missouri | Dry | $170 | $167 | $3 | |
Ohio | Dry | $145 | $142 | $3 | |
South Dakota | Dry | $160 | $150 | $10 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $144 | $144 | $0 | |
Wet | $55 | $55 | $0 | ||
Illinois | Dry | $155 | $150 | $5 | |
Nebraska | Dry | $144 | $144 | $0 | |
Wet | $55 | $55 | $0 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $155 | $135 | $20 | |
Indiana | Dry | $150 | $145 | $5 | |
Iowa | Dry | $155 | $145 | $10 | |
Michigan | Dry | $150 | $140 | $10 | |
Minnesota | Dry | $160 | $145 | $15 | |
Nebraska | Dry | $170 | $160 | $10 | |
New York | Dry | $160 | $150 | $10 | |
North Dakota | Dry | $155 | $150 | $5 | |
Ohio | Dry | $150 | $145 | $5 | |
South Dakota | Dry | $160 | $145 | $15 | |
Wisconsin | Dry | $142 | $136 | $6 | |
Valero Energy Corp, San Antonio Texas | (210-345-3362) | (210-345-3362) | |||
Indiana | Dry | $145 | $139 | $6 | |
Iowa | Dry | $140 | $135 | $5 | |
Minnesota | Dry | $145 | $145 | $0 | |
Nebraska | Dry | $135 | $135 | $0 | |
Ohio | Dry | $145 | $140 | $5 | |
South Dakota | Dry | $145 | $140 | $5 | |
California | $220 | $212 | $8 | ||
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $230 | $223 | $7 | |
*Prices listed per ton. | |||||
Weekly Average | $154 | $146 | $8 | ||
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 | 12/6/2018 | $3.7200 | $132.86 |
Soybean Meal | 12/6/2018 | $310.00 | |
DDG Weekly Average Spot Price | $154.00 | ||
DDG Value Relative to: | 12/6 | 11/29 | |
Corn | 115.91% | 113.48% | |
Soybean Meal | 49.68% | 47.57% | |
Cost Per Unit of Protein: | |||
DDG | $5.70 | $5.41 | |
Soybean Meal | $6.53 | $6.46 | |
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
(BAS/SK)
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