Market Matters Blog
DTN Weekly Average DDG Price Sharply Higher
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) from the 39 locations DTN contacted with spot offers for the week ended April 22 was $227 per ton, up $15 from one week ago. As the corn market remains volatile, remember that all prices listed below are subject to confirmation from the seller.
DDG prices are riding the wave of the sharply higher cash corn price, along with some plants reporting tight supplies. The DTN National Corn Index on April 22 is up 56 cents from April 15, one week ago. It's no secret cash corn has been hard to procure even as end users remain competitive with export prices. There was talk in the market that a U.S. pork producer bought a vessel of corn for midsummer shipment from Argentina, and we may see more imports in the summer months as end users play a tug of war for old-crop corn.
Wednesday's Energy Information Administration report showed overall ethanol plant production for the week ended April 16 was flat at 941,000 barrels per day (bpd) while four-week average output at 956,000 bpd was nearly 300,000 bpd higher than the corresponding four weeks in 2020.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 22 was 97.71% versus the five-year average of 109%. The value of DDG relative to soybean meal was 53.79% versus the three-year average of 42%. The cost per unit of protein for DDG was $8.41, compared to the cost per unit of protein for soybean meal at $8.88.
In their weekly DDGS export price update, U.S. Grains Council said, "On the export front, DDGS prices are sharply higher following this week's rally in multiple CBOT markets. Barge CIF NOLA offers are up $10 to $16 metric ton (mt) while FOB Gulf offers are up $21 to $23/mt for May-July. U.S. rail rates are higher with noted increases for July-September positions. Offers for 40-foot containers to Southeast Asia are higher this week but have so far lagged gains in the barge or FOB markets. The average offer for containerized DDGS to Southeast Asia hit $332/mt for May shipment this week and $339/mt for June."
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 | 4/22/2021 | 4/15/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $230 | $220 | $10 | |
| Wet | $115 | $110 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $230 | $215 | $15 | ||
| Wet | $115 | $108 | $7 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $240 | $212 | $28 | |
| Indiana | Dry | $230 | $208 | $22 | |
| Iowa | Dry | $230 | $212 | $18 | |
| Michigan | Dry | $230 | $210 | $20 | |
| Minnesota | Dry | $230 | $210 | $20 | |
| North Dakota | Dry | $225 | $210 | $15 | |
| New York | Dry | $245 | $225 | $20 | |
| South Dakota | Dry | $235 | $210 | $25 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $225 | $215 | $10 | |
| Iowa | Dry | $220 | $210 | $10 | |
| Michigan | Dry | $225 | $210 | $15 | |
| Minnesota | Dry | $220 | $205 | $15 | |
| Missouri | Dry | $240 | $234 | $6 | |
| Ohio | Dry | $220 | $210 | $10 | |
| South Dakota | Dry | $220 | $208 | $12 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $230 | $230 | $0 | |
| Wet | $85 | $85 | $0 | ||
| Illinois | Dry | $235 | $215 | $20 | |
| Nebraska | Dry | $230 | $230 | $0 | |
| Wet | $85 | $85 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $230 | $215 | $15 | |
| Indiana | Dry | $220 | $210 | $10 | |
| Iowa | Dry | $220 | $200 | $20 | |
| Michigan | Dry | $220 | $210 | $10 | |
| Minnesota | Dry | $220 | $205 | $15 | |
| Nebraska | Dry | $220 | $205 | $15 | |
| New York | Dry | $255 | $235 | $20 | |
| North Dakota | Dry | $220 | $200 | $20 | |
| Ohio | Dry | $220 | $205 | $15 | |
| South Dakota | Dry | $205 | $200 | $5 | |
| Wisconsin | Dry | $220 | $205 | $15 | |
| Valero Energy Corp, San Antonio, Texas | |||||
| Indiana | Dry | $240 | $210 | $30 | |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Ohio | Dry | $245 | $220 | $25 | |
| South Dakota | Dry | $0 | $0 | $0 | |
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $300 | $286 | $14 | |
| *Prices listed per ton. | |||||
| Weekly Average | $227 | $212 | $15 | ||
| 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 | 4/22/2021 | $6.5050 | $232.32 |
| Soybean Meal | 4/22/2021 | $422.00 | |
| DDG Weekly Average Spot Price | $227.00 | ||
| DDG Value Relative to: | 4/22 | 4/15 | |
| Corn | 97.71% | 100.61% | |
| Soybean Meal | 53.79% | 52.75% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.41 | $7.85 | |
| Soybean Meal | $8.88 | $8.46 | |
| 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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