Market Matters Blog
DTN Weekly Average DDG Price Pushes 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 May 6 was $246 per ton, up $9 from one week ago. Even as DDG prices jump higher again this week, demand has not slowed.
Wednesday's Energy Information Administration report showed Overall ethanol plant production held higher, up 7,000 barrels per day (bpd) to a four-week high 952,000 bpd while four-week average output was at 945,000 bpd.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended May 6 was 90.69% versus the five-year average of 109%. The value of DDG relative to soybean meal was 57.51% versus the three-year average of 42%. The cost per unit of protein for DDG was $9.11, compared to the cost per unit of protein for soybean meal at $9. (These figures are still versus May futures values on our table below.)
In their weekly DDGS export price update, U.S. Grains Council said, "On the export front, DDGS prices are mostly higher. Barge CIF NOLA offers are up $12 per metric ton (MT) for June positions while FOB NOLA offers are down $3-$6/MT this week at $322/MT for June shipment and $324/MT for July. U.S. rail rates are steady while 40-foot containers to Southeast Asia are up $30/MT at $379/MT."
The U.S. Census Bureau reported on May 4 that U.S. exports of DDGS totaled 882,553 mt in March, up from 779,324 mt in February, but down 2% from a year ago. Mexico was the top destination in February, taking 20% of U.S. exports and was followed by Vietnam and South Korea. In the first three months of 2021, U.S. exports of DDGS are down 6% from a year ago.
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 | 5/6/2021 | 4/29/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $265 | $248 | $17 | |
| Wet | $133 | $124 | $9 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $260 | $250 | $10 | ||
| Wet | $130 | $125 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $255 | $250 | $5 | |
| Indiana | Dry | $240 | $240 | $0 | |
| Iowa | Dry | $240 | $240 | $0 | |
| Michigan | Dry | $235 | $235 | $0 | |
| Minnesota | Dry | $240 | $235 | $5 | |
| North Dakota | Dry | $235 | $230 | $5 | |
| New York | Dry | $275 | $275 | $0 | |
| South Dakota | Dry | $235 | $235 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $250 | $240 | $10 | |
| Iowa | Dry | $245 | $235 | $10 | |
| Michigan | Dry | $250 | $230 | $20 | |
| Minnesota | Dry | $245 | $230 | $15 | |
| Missouri | Dry | $260 | $255 | $5 | |
| Ohio | Dry | $245 | $230 | $15 | |
| South Dakota | Dry | $245 | $233 | $12 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $260 | $240 | $20 | |
| Wet | $85 | $85 | $0 | ||
| Illinois | Dry | $268 | $250 | $18 | |
| Nebraska | Dry | $260 | $240 | $20 | |
| Wet | $85 | $85 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $245 | $245 | $0 | |
| Indiana | Dry | $245 | $235 | $10 | |
| Iowa | Dry | $235 | $225 | $10 | |
| Michigan | Dry | $245 | $230 | $15 | |
| Minnesota | Dry | $235 | $230 | $5 | |
| Nebraska | Dry | $245 | $235 | $10 | |
| New York | Dry | $275 | $265 | $10 | |
| North Dakota | Dry | $245 | $230 | $15 | |
| Ohio | Dry | $245 | $245 | $0 | |
| South Dakota | Dry | $235 | $220 | $15 | |
| Wisconsin | Dry | $235 | $225 | $10 | |
| 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 | $325 | $330 | -$5 | |
| *Prices listed per ton. | |||||
| Weekly Average | $246 | $237 | $9 | ||
| 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 | 5/6/2021 | $7.5950 | $271.25 |
| Soybean Meal | 5/6/2021 | $427.70 | |
| DDG Weekly Average Spot Price | $246.00 | ||
| DDG Value Relative to: | 5/6 | 4/29 | |
| Corn | 90.69% | 94.53% | |
| Soybean Meal | 57.51% | 56.08% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.11 | $8.78 | |
| Soybean Meal | $9.00 | $8.90 | |
| 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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