Market Matters Blog
DTN Weekly DDG Price Slightly Lower on Average
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 13 was $245 per ton, down $1 from one week ago.
DDG prices were mixed this week but given the steep losses in the corn market Thursday, prices have held up well. Demand remains good even as we normally see a spring slowdown. But the drought covering much of the western U.S. has pasture conditions in poor shape and haying nearly impossible. Monday's USDA Crop Progress report showed U.S. pasture and range conditions at 44% poor to very poor, 32% fair, 22% good and 2% excellent.
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Wednesday's Energy Information Administration report showed overall ethanol plant production held higher, up 27,000 barrels per day (bpd) to 979,000 bpd, the highest output level since the first week of December 2020, while four-week average output was 954,000 bpd.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended May 13 was 95.41% versus the three-year average of 110%. The value of DDG relative to soybean meal was 57.85% versus the three-year average of 42%. The cost per unit of protein for DDG was $9.07, compared to the cost per unit of protein for soybean meal at $8.92. (These figures are still versus May futures values on our table below. This will be the last week May shows.)
In their weekly DDGS export price update, the U.S. Grains Council said, "On the export front, DDGS prices are steady/slightly lower. FOB NOLA offers are steady/$2 lower at $322-325 for June-August shipment. U.S. rail rates are steady this week while 40-foot containers for export to Southeast Asia are down $4 at $374/mt."
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 | 5/14/2021 | 5/6/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $260 | $265 | -$5 | |
| Wet | $130 | $133 | -$3 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $250 | $260 | -$10 | ||
| Wet | $125 | $130 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $245 | $255 | -$10 | |
| Indiana | Dry | $238 | $240 | -$2 | |
| Iowa | Dry | $238 | $240 | -$2 | |
| Michigan | Dry | $235 | $235 | $0 | |
| Minnesota | Dry | $235 | $240 | -$5 | |
| North Dakota | Dry | $230 | $235 | -$5 | |
| New York | Dry | $270 | $275 | -$5 | |
| South Dakota | Dry | $235 | $235 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $240 | $250 | -$10 | |
| Iowa | Dry | $245 | $245 | $0 | |
| Michigan | Dry | $240 | $250 | -$10 | |
| Minnesota | Dry | $245 | $245 | $0 | |
| Missouri | Dry | $255 | $260 | -$5 | |
| Ohio | Dry | $235 | $245 | -$10 | |
| South Dakota | Dry | $245 | $245 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $270 | $260 | $10 | |
| Wet | $85 | $85 | $0 | ||
| Illinois | Dry | $270 | $268 | $2 | |
| Nebraska | Dry | $270 | $260 | $10 | |
| Wet | $85 | $85 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $250 | $245 | $5 | |
| Indiana | Dry | $250 | $245 | $5 | |
| Iowa | Dry | $235 | $235 | $0 | |
| Michigan | Dry | $240 | $245 | -$5 | |
| Minnesota | Dry | $235 | $235 | $0 | |
| Nebraska | Dry | $245 | $245 | $0 | |
| New York | Dry | $275 | $275 | $0 | |
| North Dakota | Dry | $240 | $245 | -$5 | |
| Ohio | Dry | $245 | $245 | $0 | |
| South Dakota | Dry | $240 | $235 | $5 | |
| Wisconsin | Dry | $240 | $235 | $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 | $325 | $5 | |
| *Prices listed per ton. | |||||
| Weekly Average | $245 | $246 | $1 | ||
| 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 | 5/13/2021 | $7.1900 | $256.79 |
| Soybean Meal | 5/13/2021 | $423.50 | |
| DDG Weekly Average Spot Price | $245.00 | ||
| DDG Value Relative to: | 5/13 | 5/6 | |
| Corn | 95.41% | 90.69% | |
| Soybean Meal | 57.85% | 57.51% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.07 | $9.11 | |
| Soybean Meal | $8.92 | $9.00 | |
| 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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