Market Matters Blog
DTN Weekly DDG Price Steady on Average
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) from the 40 locations DTN contacted with spot offers for the week ended Dec. 17 was $203 per ton, unchanged on average versus two weeks ago. DDG prices this week were mixed, but demand for feed proteins remains strong. Many end users have been staying supplied as we head into the end of the year, with some spot buying seen ahead of the holidays.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Dec. 17 was 131.42%, versus the five-year average of 109%. The value of DDG relative to soybean meal was 51.02% versus the 3-year average of 42%. The cost per unit of protein for DDG was $7.52, compared to the cost per unit of protein for soybean meal at $8.38.
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In its weekly export DDGS price report, the U.S. Grains Council wrote, "Brokers say DDGS markets were quiet early in the week, but activity picked up Wednesday and Thursday. Continued container market logistics issues are still causing backups in the domestic market, pushing barge CIF NOLA prices down $4 per metric ton (MT) this week for January positions. FOB Gulf offers are $2 to $4/MT lower this week while U.S. rail rates are steady to $1 lower. Containers destined for Southeast Asia have fallen $2 to $3/MT this week, averaging $320/MT."
The Energy Information Administration report Wednesday showed during the week ended Dec. 10 total domestic ethanol inventories increased for a seventh straight week, rising to a 29-week high in the second week of December amid continued weak implied demand. Ethanol plant production was down 3.4% to a seven-week low and 10.1% lower than the corresponding week in 2019. Four-week average output dropped 86,000 barrels per day (bpd) against year ago to 978,000 bpd.
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 | 12/17/2020 | 12/10/2020 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $230 | $230 | $0 | |
| Wet | $115 | $115 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Missouri | Dry | $235 | $235 | $0 | |
| Wet | $115 | $115 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $210 | $210 | $0 | |
| Indiana | Dry | $198 | $200 | -$2 | |
| Iowa | Dry | $198 | $198 | $0 | |
| Michigan | Dry | $198 | $198 | $0 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| North Dakota | Dry | $195 | $195 | $0 | |
| New York | Dry | $230 | $230 | $0 | |
| South Dakota | Dry | $200 | $200 | $0 | |
| E Energy Adams, Adams, Nebraska | |||||
| Adams | Dry | $225 | $225 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $200 | $205 | -$5 | |
| Iowa | Dry | $200 | $205 | -$5 | |
| Michigan | Dry | $200 | $205 | -$5 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| Missouri | Dry | $240 | $230 | $10 | |
| Ohio | Dry | $200 | $205 | -$5 | |
| South Dakota | Dry | $200 | $205 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $184 | $184 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Illinois JANUARY | Dry | $207 | $212 | -$5 | |
| Nebraska | Dry | $177 | $177 | $0 | |
| Wet | $75 | $75 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $205 | $205 | $0 | |
| Indiana | Dry | $200 | $200 | $0 | |
| Iowa | Dry | $195 | $195 | $0 | |
| Michigan | Dry | $200 | $200 | $0 | |
| Minnesota | Dry | $195 | $190 | $5 | |
| Nebraska | Dry | $210 | $210 | $0 | |
| New York | Dry | $240 | $240 | $0 | |
| North Dakota | Dry | $210 | $210 | $0 | |
| Ohio | Dry | $200 | $200 | $0 | |
| South Dakota | Dry | $190 | $185 | $5 | |
| Wisconsin | Dry | $190 | $190 | $0 | |
| Valero Energy Corp, San Antonio, Texas | |||||
| Indiana | Dry | $208 | $208 | $0 | |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Ohio | Dry | $197 | $197 | $0 | |
| South Dakota | Dry | $0 | $0 | $0 | |
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $265 | $270 | -$5 | |
| *Prices listed per ton. | |||||
| Weekly Average | $203 | $203 | $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 | 12/17/2020 | $4.3250 | $154.46 |
| Soybean Meal | 12/17/2020 | $397.90 | |
| DDG Weekly Average Spot Price | $203.00 | ||
| DDG Value Relative to: | 12/17 | 12/10 | |
| Corn | 131.42% | 135.25% | |
| Soybean Meal | 51.02% | 53.28% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.52 | $7.52 | |
| Soybean Meal | $8.38 | $8.02 | |
| 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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