Market Matters Blog
DTN Weekly Average DDG Price Slightly Higher
OMAHA (DTN) -- The domestic distillers dried grains (DDG) weekly average spot price from the 40 locations DTN contacted was up $1, to $140 per ton, for the week ended Oct. 3. Prices were mixed from various sellers, but the strength in the cash has kept the market firm overall.
The Energy Information Administration reported on Wednesday that for the week ended Sept. 27, ethanol plant production increased 15,000 barrels per day (bpd) or 1.6% from a more than 3-1/2 year low to 958,000 bpd, which is 57,000 bpd or 5.6% below the year-ago operating rate for the same week. Midwest producers accounted for 10,000 bpd of the weekly increase in output.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 3 was at 100.11%. The value of DDG relative to soybean meal was at 46.64%. The cost per unit of protein for DDG was $5.15, compared to the cost per unit of protein for soybean meal at $6.27.
In its weekly export DDGS update, the U.S. Grains Council stated, "The DDGS export market is much the same as last week with FOB Gulf values declining slightly and 40-foot containers to Southeast Asia steady at $239 per metric ton. The move higher in soybean meal futures has reportedly prompted some international buyers to take a more cautious approach. Still, with DDGS supplies expected to remain tighter through the fall, exporters are defending asking prices."
ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||||
COMPANY | STATE | 10/3/2019 | 9/19/2019 | ||||
Bartlett and Company, Kansas City, MO (816-753-6300) | |||||||
Missouri | Dry | $150 | $140 | $10 | |||
Wet | $75 | $70 | $5 | ||||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||||
Missouri Subject | Dry | $142 | $142 | $0 | |||
Wet | $72 | $72 | $0 | ||||
CHS, Minneapolis, MN (800-769-1066) | |||||||
Illinois | Dry | $140 | $145 | -$5 | |||
Indiana | Dry | $145 | $145 | $0 | |||
Iowa | Dry | $130 | $130 | $0 | |||
Michigan | Dry | $145 | $150 | -$5 | |||
Minnesota | Dry | $130 | $130 | $0 | |||
North Dakota | Dry | $130 | $130 | $0 | |||
New York | Dry | $145 | $145 | $0 | |||
South Dakota | Dry | $125 | $125 | $0 | |||
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||||
Kansas | Dry | $145 | $135 | $10 | |||
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||||
Indiana | Dry | $150 | $155 | -$5 | |||
Iowa | Dry | $145 | $145 | $0 | |||
Michigan | Dry | $135 | $135 | $0 | |||
Minnesota | Dry | $145 | $140 | $5 | |||
Missouri | Dry | $145 | $150 | -$5 | |||
Ohio | Dry | $155 | $150 | $5 | |||
South Dakota | Dry | $150 | $145 | $5 | |||
United BioEnergy, Wichita, KS (316-616-3521) | |||||||
Kansas | Dry | $145 | $150 | -$5 | |||
Wet | $55 | $60 | -$5 | ||||
Illinois | Dry | $147 | $145 | $2 | |||
Nebraska | Dry | $145 | $145 | $0 | |||
Wet | $50 | $50 | $0 | ||||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||||
Illinois | Dry | $140 | $140 | $0 | |||
Indiana | Dry | $150 | $145 | $5 | |||
Iowa | Dry | $135 | $135 | $0 | |||
Michigan | Dry | $145 | $145 | $0 | |||
Minnesota | Dry | $130 | $130 | $0 | |||
Nebraska | Dry | $135 | $130 | $5 | |||
New York | Dry | $160 | $150 | $10 | |||
North Dakota | Dry | $135 | $135 | $0 | |||
Ohio | Dry | $150 | $150 | $0 | |||
South Dakota | Dry | $130 | $130 | $0 | |||
Wisconsin | Dry | $130 | $130 | $0 | |||
Valero Energy Corp, San Antonio Texas | (210-345-3362) | (210-345-3362) | |||||
Indiana | Dry | $136 | $136 | $0 | |||
Iowa | Dry | $135 | $125 | $10 | |||
Minnesota | Dry | $140 | $120 | $20 | |||
Nebraska | Dry | $135 | $135 | $0 | |||
Ohio | Dry | $145 | $140 | $5 | |||
South Dakota | Dry | $135 | $128 | $7 | |||
California | Dry | $200 | $195 | $5 | |||
Western Milling, Goshen, California (559-302-1074) | |||||||
California | Dry | $203 | $200 | $3 | |||
*Prices listed per ton. | |||||||
Weekly Average | $140 | $139 | $1 | ||||
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 | 10/3/2019 | $3.8875 | $138.84 | ||||
Soybean Meal | 10/3/2019 | $298.00 | |||||
DDG Weekly Average Spot Price | $140.00 | ||||||
DDG Value Relative to: | 10/3 | 9/19 | |||||
Corn | 100.11% | 104.41% | |||||
Soybean Meal | 46.64% | 47.57% | |||||
Cost Per Unit of Protein: | |||||||
DDG | $5.15 | $5.15 | |||||
Soybean Meal | $6.27 | $6.15 | |||||
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/CZ)
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