Market Matters Blog
DTN Weekly Average DDG Price Slightly Lower
OMAHA (DTN) -- The domestic distillers dried grains (DDG) weekly average spot price from the 40 locations DTN contacted was down $1, to $140 per ton for the week ended Oct. 24.
Prices were mixed from various sellers, with the DDG price this week slightly weaker in some states. The cash corn price has been under pressure from ongoing harvest activity, but the corn basis remains strong in some areas where farmer selling has been slow and plants need to push basis levels to procure corn.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 24 was at 101.36%. The value of DDG relative to soybean meal was at 45.81%. The cost per unit of protein for DDG was $5.19, compared to the cost per unit of protein for soybean meal at $6.43.
In its weekly export DDGS update, the U.S. Grains Council noted that CIF NOLA (New Orleans, Louisiana) prices are $7 per metric ton (mt) higher this week, while FOB Gulf offers are up $2-$3/mt for November/December shipment.
"Rates for DDGS delivered via rail to the PNW are $3/mt higher this week," the U.S. Grains Council noted. "Merchandisers report active inquiries from Southeast Asia, with aggressive purchases from Indonesia and some sales to Thailand. Vietnamese inquiries have been active, but bids are lower than exporters' firm asking prices. The average price for 40-foot containers to Southeast Asia is down $1/mt to $236/mt for November shipment."
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 10/24/2019 | 10/16/2019 | ||
| Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
| Missouri | Dry | $150 | $150 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri Subject | Dry | $147 | $147 | $0 | |
| Wet | $55 | $75 | -$20 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $135 | $140 | -$5 | |
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Michigan | Dry | $150 | $150 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| North Dakota | Dry | $135 | $130 | $5 | |
| New York | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $125 | $125 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
| Kansas | Dry | $145 | $145 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $140 | $140 | $0 | |
| Michigan | Dry | $135 | $135 | $0 | |
| Minnesota | Dry | $137 | $138 | -$1 | |
| Missouri | Dry | $143 | $143 | $0 | |
| Ohio | Dry | $145 | $145 | $0 | |
| South Dakota | Dry | $150 | $150 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $142 | $145 | -$3 | |
| Wet | $55 | $55 | $0 | ||
| Illinois | Dry | $147 | $147 | $0 | |
| Nebraska | Dry | $135 | $135 | $0 | |
| Wet | $45 | $45 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $145 | $145 | $0 | |
| Indiana | Dry | $145 | $155 | -$10 | |
| Iowa | Dry | $140 | $140 | $0 | |
| Michigan | Dry | $145 | $150 | -$5 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| Nebraska | Dry | $140 | $140 | $0 | |
| New York | Dry | $170 | $165 | $5 | |
| North Dakota | Dry | $140 | $140 | $0 | |
| Ohio | Dry | $150 | $155 | -$5 | |
| South Dakota | Dry | $135 | $135 | $0 | |
| Wisconsin | Dry | $135 | $135 | $0 | |
| Valero Energy Corp, San Antonio Texas | (210-345-3362) | ||||
| Indiana | Dry | $136 | $136 | $0 | |
| Iowa | Dry | $145 | $145 | $0 | |
| Minnesota | Dry | $140 | $140 | $0 | |
| Nebraska | Dry | $135 | $135 | $0 | |
| Ohio | Dry | $145 | $145 | $0 | |
| South Dakota | Dry | $135 | $135 | $0 | |
| California | Dry | $205 | $205 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $211 | $203 | $8 | |
| *Prices listed per ton. | |||||
| Weekly Average | $140 | $141 | -$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 | 10/24/2019 | $3.8675 | $138.13 |
| Soybean Meal | 10/24/2019 | $305.60 | |
| DDG Weekly Average Spot Price | $140.00 | ||
| DDG Value Relative to: | 10/24 | 10/16 | |
| Corn | 101.36% | 100.78% | |
| Soybean Meal | 45.81% | 46.26% | |
| Cost Per Unit of Protein: | |||
| DDG | $5.19 | $5.22 | |
| Soybean Meal | $6.43 | $6.42 | |
| 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
(AG)
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