Market Matters Blog
DTN Weekly DDG Price Higher 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. 23 was $205 per ton. DDG prices this week were trending higher heading into the Christmas and New Year's holiday week. Merchandisers report the prices are firm due to tight supplies and the continued rise in soymeal prices. Cash soymeal prices are up an average of $26 to $28 per ton in the Midwest versus one week ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Dec. 23 was 128.34%, versus the 5-year average of 109%. The value of DDG relative to soybean meal was 48.67% versus the 3-year average of 42%. The cost per unit of protein for DDG was $7.59, compared to the cost per unit of protein for soybean meal at $8.87.
The Energy Information Administration reported Wednesday that total domestic ethanol inventories were higher for an eighth straight week for the week ended Dec. 18, rising to a 30-week high on overall weak demand and a 2% hike in production. Ethanol plant production moved off a 7-week low, up 19,000 barrels per day (bpd) to 976,000 bpd, 10% lower than the corresponding week in 2019. Four-week average output dropped 96,000 bpd against year ago to 974,000 bpd.
Some export shippers are still experiencing container shortages as U.S. Grains Council noted last week that continued container market logistics issues pushed barge CIF NOLA prices down $4/metric ton (mt) for January positions. Read my Market Matters blog entry from this week about ag exporters requesting official action from the Federal Maritime Commission (FMC) to investigate denied and canceled container bookings among other serious issues affecting their ability to ship ag commodities such as DDGS.
NOTE: All prices listed below can change at any time and are subject to confirmation from seller. These prices reflect the week ending 12-23; there will be no report for the week ending 12-30 so for updates/changes call the seller.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 12/23/2020 | 12/17/2020 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $235 | $230 | $5 | |
| Wet | $118 | $115 | $3 | ||
| 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 | $205 | $200 | $5 | |
| Indiana | Dry | $198 | $198 | $0 | |
| Iowa | Dry | $195 | $198 | -$3 | |
| Michigan | Dry | $198 | $198 | $0 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| North Dakota | Dry | $195 | $195 | $0 | |
| New York | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $200 | $200 | $0 | |
| E Energy Adams, Adams, Nebraska | |||||
| Adams SUBJECT | Dry | $225 | $225 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $205 | $200 | $5 | |
| Iowa | Dry | $205 | $200 | $5 | |
| Michigan | Dry | $205 | $200 | $5 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| Missouri | Dry | $245 | $240 | $5 | |
| Ohio | Dry | $205 | $200 | $5 | |
| South Dakota | Dry | $205 | $200 | $5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $184 | $184 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Illinois JANUARY | Dry | $210 | $207 | $3 | |
| 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 | $195 | $0 | |
| 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 | $190 | $0 | |
| Wisconsin | Dry | $190 | $190 | $0 | |
| Valero Energy Corp, San Antonio, Texas | |||||
| Indiana | Dry | $220 | $208 | $12 | |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Ohio | Dry | $215 | $197 | $18 | |
| South Dakota | Dry | $0 | $0 | ||
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $280 | $265 | $15 | |
| *Prices listed per ton. | |||||
| Weekly Average | $205 | $203 | $2 | ||
| 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 | 12/23/2020 | $4.4725 | $159.73 |
| Soybean Meal | 12/23/2020 | $421.20 | |
| DDG Weekly Average Spot Price | $205.00 | ||
| DDG Value Relative to: | 12/23 | 12/17 | |
| Corn | 128.34% | 131.42% | |
| Soybean Meal | 48.67% | 51.02% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.59 | $7.52 | |
| Soybean Meal | $8.87 | $8.38 | |
| 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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