Market Matters Blog
DTN Weekly Average DDG Price Steady
OMAHA (DTN) -- The domestic distillers dried grains (DDG) weekly average spot price from the 40 locations DTN contacted was steady at $140 per ton for the week ended Oct. 31.
Prices are mixed from various sellers again this week, but the higher corn basis and the delay to harvest is supporting the market in some states.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 31 was at 100.51%. The value of DDG relative to soybean meal was at 45.99%. The cost per unit of protein for DDG was $5.19, compared to the cost per unit of protein for soybean meal at $6.41.
In its weekly export DDGS update, the U.S. Grains Council noted that higher CIF (cost, insurance and freight paid by the seller) NOLA (New Orleans, Louisiana) prices have paved the way for gains in the Chicago market as well as East Coast export offers.
"FOB (free on board -- the buyer pays for transportation of the goods) NOLA values are up $9 per metric ton (mt) this week for November shipment, sparking a $3/mt rise in values for spot Barge CIF NOLA product. The recent winter storm across the Plains and Midwest is reported to be partly responsible for the $16/mt increase in DDGS rail-delivered to the Pacific Northwest.
"Internationally, exporters note Indonesia has been actively securing U.S. product, and while Vietnamese purchases have been quiet, the bid/ask spread has narrowed considerably this week. Rates for 40-foot containers to Southeast Asia are up $2/mt from last week for November shipment."
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 10/31/2019 | 10/24/2019 | ||
| Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
| Missouri | Dry | $153 | $150 | $3 | |
| Wet | $77 | $75 | $2 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri Subject | Dry | $150 | $147 | $3 | |
| Wet | $77 | $55 | $22 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $135 | $135 | $0 | |
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Michigan | Dry | $150 | $150 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| North Dakota | Dry | $135 | $135 | $0 | |
| New York | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $125 | $125 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
| Kansas | Dry | $148 | $145 | $3 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $145 | $140 | $5 | |
| Iowa | Dry | $140 | $140 | $0 | |
| Michigan | Dry | $135 | $135 | $0 | |
| Minnesota | Dry | $137 | $137 | $0 | |
| Missouri | Dry | $148 | $143 | $5 | |
| Ohio | Dry | $150 | $145 | $5 | |
| South Dakota | Dry | $148 | $150 | -$2 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $142 | $142 | $0 | |
| 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 | $140 | $145 | -$5 | |
| Indiana | Dry | $140 | $145 | -$5 | |
| Iowa | Dry | $135 | $140 | -$5 | |
| Michigan | Dry | $145 | $145 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| Nebraska | Dry | $140 | $140 | $0 | |
| New York | Dry | $165 | $170 | -$5 | |
| North Dakota | Dry | $135 | $140 | -$5 | |
| Ohio | Dry | $145 | $150 | -$5 | |
| South Dakota | Dry | $135 | $135 | $0 | |
| Wisconsin | Dry | $135 | $135 | $0 | |
| Valero Energy Corp, San Antonio Texas | |||||
| 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 | $211 | $0 | |
| *Prices listed per ton. | |||||
| Weekly Average | $140 | $140 | $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 | 10/31/2019 | $3.9000 | $139.29 |
| Soybean Meal | 10/31/2019 | $304.40 | |
| DDG Weekly Average Spot Price | $140.00 | ||
| DDG Value Relative to: | 10/31 | 10/24 | |
| Corn | 100.51% | 101.36% | |
| Soybean Meal | 45.99% | 45.81% | |
| Cost Per Unit of Protein: | |||
| DDG | $5.19 | $5.19 | |
| Soybean Meal | $6.41 | $6.43 | |
| 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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