Market Matters Blog
DTN Weekly Average DDG Price Higher
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) from the 40 locations DTN contacted with spot offers for the week ended Nov. 12 was $187 per ton, up $5 on average from the prior week. Higher soymeal prices and strong export demand are supportive to DDG prices and other feed ingredients. The latest DTN weekly average cash price is up nearly $40 per ton on average versus pre-COVID-19 levels in mid-March.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 12 was 128.25%, well above the five-year average of 109%. The value of DDG relative to soybean meal was 48.18% and above the three-year average of 42%. The cost per unit of protein for DDG was $6.93, compared to the cost per unit of protein for soybean meal at $8.17.
In their weekly export DDGS price report, U.S. Grains Council said that, "DDGS brokers and merchandisers note that export demand remains firm. Traders say that "destination business" has been done this week and those trades are further supporting offers and replacement prices. Barge CIF NOLA values are up $9 to $14 per metric ton (MT) this week while FOB Gulf prices have risen $9/MT for December and $13/MT for January and February 2021. Offers for 40-foot containers to Southeast Asia are up $13/MT this week, averaging $303/MT."
The Energy Information Administration reported Thursday that domestic ethanol inventories were higher for a second week, rising to a 10-week high amid another uptick in production during the week ended Nov. 6, while blending demand edged lower. Ethanol plant production increased for a third week, up 1.7%, the highest output rate since the week ended March 20 but 5.1% lower than the corresponding week in 2019.
NOTE: All prices listed below can change at any time and are subject to confirmation from seller.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 11/12/2020 | 11/5/2020 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $210 | $200 | $10 | |
| Wet | $105 | $100 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri Subject | Dry | $210 | $200 | $10 | |
| Wet | $102 | $95 | $7 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $200 | $190 | $10 | |
| Indiana | Dry | $190 | $180 | $10 | |
| Iowa | Dry | $190 | $180 | $10 | |
| Michigan | Dry | $190 | $180 | $10 | |
| Minnesota | Dry | $185 | $170 | $15 | |
| North Dakota | Dry | $180 | $165 | $15 | |
| New York | Dry | $205 | $195 | $10 | |
| South Dakota | Dry | $180 | $170 | $10 | |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
| Kansas | Dry | $195 | $185 | $10 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $200 | $190 | $10 | |
| Iowa | Dry | $195 | $185 | $10 | |
| Michigan | Dry | $190 | $185 | $5 | |
| Minnesota | Dry | $190 | $180 | $10 | |
| Missouri | Dry | $205 | $195 | $10 | |
| Ohio | Dry | $195 | $190 | $5 | |
| South Dakota | Dry | $190 | $183 | $7 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $177 | $177 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Illinois | Dry | $200 | $195 | $5 | |
| Nebraska | Dry | $177 | $177 | $0 | |
| Wet | $75 | $75 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $185 | $185 | $0 | |
| Iowa | Dry | $175 | $175 | $0 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $175 | $175 | $0 | |
| Nebraska | Dry | $180 | $180 | $0 | |
| New York | Dry | $210 | $210 | $0 | |
| North Dakota | Dry | $175 | $175 | $0 | |
| Ohio | Dry | $185 | $185 | $0 | |
| South Dakota | Dry | $165 | $165 | $0 | |
| Wisconsin | Dry | $170 | $170 | $0 | |
| Valero Energy Corp, San Antonio Texas | |||||
| Subject | Indiana | Dry | $183 | $183 | $0 |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Subject | Ohio | Dry | $172 | $172 | $0 |
| South Dakota | Dry | $0 | $0 | $0 | |
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $265 | $256 | $9 | |
| *Prices listed per ton. | |||||
| Weekly Average | $187 | $182 | $5 | ||
| 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 | 11/12/2020 | $4.0825 | $145.80 |
| Soybean Meal | 11/12/2020 | $388.10 | |
| DDG Weekly Average Spot Price | $187.00 | ||
| DDG Value Relative to: | 11/12 | 11/5 | |
| Corn | 128.25% | 124.52% | |
| Soybean Meal | $48.18 | 46.93% | |
| Cost Per Unit of Protein: | |||
| DDG | $6.93 | $6.74 | |
| Soybean Meal | $8.17 | $8.16 | |
| 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
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