DDG Weekly Update
DDG Prices Steady
The DTN average DDG spot price was unchanged for the week ended Nov. 17 at $106 with three price declines ranging from $2 to $5 per ton. Of the 37 locations from which DTN collects spot prices, three were lower, one was higher than the prior week, and the balance of the prices were unchanged. DDG trading has been light this week and as runtimes remain strong, we could see supplies become a burden and pressure prices lower for at least the rest of the month. A lot will depend on the cold, snowy weather forecasted for the next week and if feeders will increase feed intakes and come to the market for spot purchases. Also, if the cash corn price moves lower, DDG will likely follow to stay competitive in rations as other corn by products prices compete with inclusion rates in feed.
CIF NOLA (New Orleans, Louisiana) DDGS prices were lower for the week ended Nov. 17 with November prices down 3 cents to down 5 cents vs. one week ago and are at 143. Prices for December lower as well and are at 140 to 143. Export markets are flat and as we get closer to December, there is still uncertainty surrounding Vietnam's next move will be, which has put a damper on the export market for now.
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The value of DDG relative to corn for the week ended Nov. 17 was higher at 86.78% vs. 86.40% the prior week and the value of DDG relative to soybean meal was slightly lower at 34.03% vs. 34.04% the prior week. The cost per unit of protein for DDG at $4.24 compared to the cost per unit of protein for soybean meal which was at $6.56.
| CURRENT | PREVIOUS | ||||
| COMPANY | STATE | 11/10/2016 | 11/3/2016 | CHANGE | |
| Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
| Missouri | Dry | $120 | $120 | $0 | |
| Modified | $62 | $62 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $105 | $105 | $0 | |
| Indiana | Dry | $105 | $105 | $0 | |
| Iowa | Dry | $105 | $105 | $0 | |
| Michigan | Dry | $110 | $115 | -$5 | |
| Minnesota | Dry | $98 | $98 | $0 | |
| North Dakota | Dry | $100 | $105 | -$5 | |
| New York | Dry | $110 | $115 | -$5 | |
| South Dakota | Dry | $95 | $100 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
| Kansas | Dry | $110 | $105 | $5 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $112 | $112 | $0 | |
| Iowa | Dry | $100 | $100 | $0 | |
| Michigan | Dry | $110 | $112 | -$2 | |
| Minnesota | Dry | $95 | $95 | $0 | |
| Missouri | Dry | $120 | $120 | $0 | |
| Ohio | Dry | $112 | $115 | -$3 | |
| South Dakota | Dry | $95 | $95 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $118 | $118 | $0 | |
| Wet | $40 | $40 | $0 | ||
| Illinois | Dry | $125 | $125 | $0 | |
| Nebraska | Dry | $118 | $118 | $0 | |
| Wet | $40 | $40 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $110 | $115 | -$5 | |
| Indiana | Dry | $110 | $112 | -$2 | |
| Iowa | Dry | $100 | $105 | -$5 | |
| Michigan | Dry | $115 | $118 | -$3 | |
| Minnesota | Dry | $95 | $95 | $0 | |
| Nebraska | Dry | $105 | $100 | $5 | |
| New York | Dry | $130 | $130 | $0 | |
| North Dakota | Dry | $105 | $105 | $0 | |
| Ohio | Dry | $110 | $110 | $0 | |
| South Dakota | Dry | $95 | $95 | $0 | |
| Wisconsin | Dry | $102 | $102 | $0 | |
| Valero Energy Corp., San Antonio, TX (402-727-5300) | |||||
| Indiana | Dry | $100 | $100 | $0 | |
| Iowa | Dry | $95 | $95 | $0 | |
| Minnesota | Dry | $95 | $95 | $0 | |
| Nebraska | Dry | $105 | $105 | $0 | |
| Ohio | Dry | $120 | $120 | $0 | |
| South Dakota | Dry | $90 | $90 | $0 | |
| California | $162 | $162 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $175 | $175 | $0 | |
| *Prices listed per ton. | |||||
| Weekly Average | $106 | $107 | -$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 | 11/10/2016 | $3.4350 | $122.68 |
| Soybean Meal | 11/10/2016 | $311.40 | |
| DDG Weekly Average Spot Price | $106.00 | ||
| DDG Value Relative to: | 11/11 | 11/3 | |
| Corn | 86.40% | 86.09% | |
| Soybean Meal | 34.04% | 34.92% | |
| Cost Per Unit of Protein: | |||
| DDG | $4.24 | $4.28 | |
| Soybean Meal | $6.56 | $6.45 | |
| 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 25. | |||
Mary Kennedy can be reached at Mary.Kennedy@dtn.com
Follow her on Twitter @MaryCKenn
(SK/AG)
Copyright 2016 DTN/The Progressive Farmer. All rights reserved.
