Market Matters Blog
DTN Weekly DDG Average Price Steady
OMAHA (DTN) -- The domestic distillers dried grains (DDG) average spot price from the 40 locations DTN contacted was unchanged at $141 per ton for the week ended June 27. DDG prices overall were steady as cash corn prices were flat and soymeal prices were lower this week. California DDG prices were lower across the board.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 27 was at 89.73% and is still below the five-year average. The value of DDG relative to soybean meal was at 45.16%. The cost per unit of protein for DDG was $5.22, compared to the cost per unit of protein for soybean meal at $6.57.
The midweek Energy Information Administration report noted that plant production declined for the second consecutive week and ethanol inventory moved fractionally lower to 21.567 million barrels during the week ended June 21, placing it at the lowest since the week ended May 25, 2018.
In their weekly export DDGS update, the U.S. Grains Council stated, "On the export market, merchandisers report modest buying interest from Southeast Asia with several confirmed sales. FOB Gulf DDGS values are near $221/mt this week with 40-foot containers CIF Southeast Asia values rising $6/mt for spot delivery to $244/mt. Merchandisers note mostly quiet interest from Vietnam but a recent uptick in inquiries for July and August delivery. Buyers in Indonesia have also made several inquiries for July/August shipment."
NOTE: The prices listed below are through the week ended June 27. Because of the Independence Holiday next week, there will be no price update. These prices may change between now and the next update in two weeks, so call the buyer to check on current prices after this week.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 6/27/2019 | 6/20/2019 | ||
| Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
| Missouri | Dry | $155 | $150 | $5 | |
| Wet | $80 | $80 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri Subject | Dry | $150 | $145 | $5 | |
| Wet | $77 | $75 | $2 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $150 | $150 | $0 | |
| Indiana | Dry | $145 | $145 | $0 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Michigan | Dry | $145 | $145 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| North Dakota | Dry | $135 | $135 | $0 | |
| New York | Dry | $155 | $155 | $0 | |
| South Dakota | Dry | $135 | $135 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
| Kansas | Dry | $140 | $138 | $2 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $170 | $160 | $10 | |
| Iowa | Dry | $135 | $145 | -$10 | |
| Michigan | Dry | $140 | $150 | -$10 | |
| Minnesota | Dry | $140 | $145 | -$5 | |
| Missouri | Dry | $165 | $165 | $0 | |
| Ohio | Dry | $170 | $165 | $5 | |
| South Dakota | Dry | $150 | $145 | $5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $120 | $120 | $0 | |
| Wet | $45 | $45 | $0 | ||
| Illinois | Dry | $148 | $140 | $8 | |
| Nebraska | Dry | $120 | $120 | $0 | |
| Wet | $45 | $45 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $140 | $140 | $0 | |
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Michigan | Dry | $135 | $135 | $0 | |
| Minnesota | Dry | $130 | $130 | $0 | |
| Nebraska | Dry | $130 | $130 | $0 | |
| New York | Dry | $150 | $150 | $0 | |
| North Dakota | Dry | $140 | $140 | $0 | |
| Ohio | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $130 | $130 | $0 | |
| Wisconsin | Dry | $135 | $135 | $0 | |
| Valero Energy Corp, San Antonio Texas | (210-345-3362) | (210-345-3362) | |||
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| Nebraska | Dry | $135 | $135 | $0 | |
| Ohio | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $130 | $130 | $0 | |
| California | Dry | $200 | $202 | -$2 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $214 | $220 | -$6 | |
| *Prices listed per ton. | |||||
| Weekly Average | $141 | $141 | $0 | ||
| 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 | 6/27/2019 | $4.4000 | $157.14 |
| Soybean Meal | 6/27/2019 | $312.20 | |
| DDG Weekly Average Spot Price | $141.00 | ||
| DDG Value Relative to: | 6/27 | 6/20 | |
| Corn | 89.73% | 87.73% | |
| Soybean Meal | 45.16% | 43.65% | |
| Cost Per Unit of Protein: | |||
| DDG | $5.22 | $5.22 | |
| Soybean Meal | $6.57 | $6.80 | |
Mary Kennedy can be reached at mary.kennedy@dtn.com
Follow her on Twitter @MaryCKenn
(CZ)
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