Market Matters Blog
DTN Weekly Average DDG Price Continues 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 29 was $237 per ton, up $10 from one week ago.
DDG prices continue to move higher along with the corn board and higher soymeal and other feed products. Current high prices have some sellers only booking May loads right now, according to some merchandisers. Demand remains strong as poor- to very-poor pasture conditions in drought-stricken areas of the U.S. have feeders keeping DDG and other feed products in their rations.
Wednesday's Energy Information Administration report showed overall ethanol plant production gained 4,000 barrels per day (bpd) to 945,000 bpd while the four-week average output was at 955,000 bpd.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 29 was 94.53% versus the five-year average of 109%. The value of DDG relative to soybean meal was 56.08% versus the three-year average of 42%. The cost per unit of protein for DDG was $8.78, compared to the cost per unit of protein for soybean meal at $8.90. (These figures are versus May futures value on our table.)
In their weekly DDGS export price update, the U.S. Grains Council said, "On the export front, DDGS prices are sharply higher. Barge CIF NOLA offers are up $6 to $7 metric tons (mt) while FOB Gulf offers are up $22 to $23/mt for May-July. U.S. rail rates are higher with spot offers up $11/mt and June/July up $8/mt. Offers for 40-foot containers to Southeast Asia are higher this week and higher ocean freight rates for summer/third quarter positions are supporting deferred containerized DDGS offers. The average offer for containerized DDGS to Southeast Asia hit $340/mt for May shipment this week and $350/mt for June/July."
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 | 4/29/2021 | 4/22/2021 | ||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
Missouri | Dry | $248 | $230 | $18 | |
Wet | $124 | $115 | $9 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Dry | $250 | $230 | $20 | ||
Wet | $125 | $115 | $10 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $250 | $240 | $10 | |
Indiana | Dry | $240 | $230 | $10 | |
Iowa | Dry | $240 | $230 | $10 | |
Michigan | Dry | $235 | $230 | $5 | |
Minnesota | Dry | $235 | $230 | $5 | |
North Dakota | Dry | $230 | $225 | $5 | |
New York | Dry | $275 | $245 | $30 | |
South Dakota | Dry | $235 | $235 | $0 | |
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $240 | $225 | $15 | |
Iowa | Dry | $235 | $220 | $15 | |
Michigan | Dry | $230 | $225 | $5 | |
Minnesota | Dry | $230 | $220 | $10 | |
Missouri | Dry | $255 | $240 | $15 | |
Ohio | Dry | $230 | $220 | $10 | |
South Dakota | Dry | $233 | $220 | $13 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $240 | $230 | $10 | |
Wet | $85 | $85 | $0 | ||
Illinois May | Dry | $250 | $235 | $15 | |
Nebraska | Dry | $240 | $230 | $10 | |
Wet | $85 | $85 | $0 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $245 | $230 | $15 | |
Indiana | Dry | $235 | $220 | $15 | |
Iowa | Dry | $225 | $220 | $5 | |
Michigan | Dry | $230 | $220 | $10 | |
Minnesota | Dry | $230 | $220 | $10 | |
Nebraska | Dry | $235 | $220 | $15 | |
New York | Dry | $265 | $255 | $10 | |
North Dakota | Dry | $230 | $220 | $10 | |
Ohio | Dry | $245 | $220 | $25 | |
South Dakota | Dry | $220 | $205 | $15 | |
Wisconsin | Dry | $225 | $220 | $5 | |
Valero Energy Corp, San Antonio, Texas | |||||
Indiana | Dry | $240 | $240 | $0 | |
Iowa | Dry | $0 | $0 | $0 | |
Minnesota | Dry | $0 | $0 | $0 | |
Nebraska | Dry | $0 | $0 | $0 | |
Ohio | Dry | $245 | $245 | $0 | |
South Dakota | Dry | $0 | $0 | $0 | |
California | Dry | $0 | $0 | $0 | |
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $330 | $300 | $30 | |
*Prices listed per ton. | |||||
Weekly Average | $237 | $227 | $10 | ||
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 | 4/29/2021 | $7.0200 | $250.71 |
Soybean Meal | 4/29/2021 | $422.60 | |
DDG Weekly Average Spot Price | $237.00 | ||
DDG Value Relative to: | 4/29 | 4/22 | |
Corn | 94.53% | 97.71% | |
Soybean Meal | 56.08% | 53.79% | |
Cost Per Unit of Protein: | |||
DDG | $8.78 | $8.41 | |
Soybean Meal | $8.90 | $8.88 | |
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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