DDG Weekly Update
DDG Prices Weaker
OMAHA (DTN) -- The DTN average dried distillers grains spot price (DDG) from the 39 locations DTN collects bids from, was $110 for the week ended Aug. 3, down $2 on average from one week ago.
Based on the average of those bids collected by DTN, the value of DDG relative to corn for the week ended Aug. 3 was at 84.73%, and the value of DDG relative to soybean meal was at 35.91%. The cost per unit of protein for DDG was $4.07, compared to the cost per unit of protein for soybean meal at $6.45.
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A merchandiser told DTN that it's been a quiet week with little news to affect the market either way, and the market felt "heavy." Informa Economics noted that, since the end of the July, buyers were pulling back, but "expect to see a little more volatility in mid-August when more contracts are typically executed. DDG prices saw an increase with the recent rally in corn and soybean meal, but with production meeting demand, expect prices to remain mostly range bound outside of some large deviation in corn or soybean meal prices."
CIF NOLA (New Orleans, Louisiana) dried distillers grains with solubles, or DDGS, prices were weaker from one week ago with August at $140 to $147 and August-September at $140 to $147. Other than China and Vietnam, exports have been good recently. Vietnam's Plant Protection Department visited the U.S. this week and is currently in New Orleans "assessing procedures." Market rumors point to them restarting U.S. imports in the next few months after being absent since mid-December 2016. So far, there has been no official statement from Vietnam as to what they plan to do next, but sellers are feeling optimistic.
CURRENT | PREVIOUS | CHANGE | |||
COMPANY | STATE | 8/03/017 | 7/27/017 | ||
Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
Missouri | Dry | $120 | $120 | $0 | |
Modified | $60 | $60 | $0 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $115 | $115 | $0 | |
Indiana | Dry | $115 | $115 | $0 | |
Iowa | Dry | $112 | $115 | -$3 | |
Michigan | Dry | $105 | $105 | $0 | |
Minnesota | Dry | $105 | $110 | -$5 | |
North Dakota | Dry | $120 | $125 | -$5 | |
New York | Dry | $125 | $130 | -$5 | |
South Dakota | Dry | $105 | $110 | -$5 | |
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
Kansas | Dry | $112 | $112 | $0 | |
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $115 | $115 | $0 | |
Iowa | Dry | $110 | $110 | $0 | |
Michigan | Dry | $112 | $115 | -$3 | |
Minnesota | Dry | $110 | $110 | $0 | |
Missouri | Dry | $125 | $125 | $0 | |
Ohio | Dry | $115 | $115 | $0 | |
South Dakota | Dry | $100 | $100 | $0 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $112 | $113 | -$1 | |
Wet | $45 | $45 | $0 | ||
Illinois | Dry | $120 | $120 | $0 | |
Nebraska | Dry | $112 | $113 | -$1 | |
Wet | $45 | $45 | $0 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $110 | $115 | -$5 | |
Indiana | Dry | $110 | $115 | -$5 | |
Iowa | Dry | $110 | $115 | -$5 | |
Michigan | Dry | $105 | $115 | -$10 | |
Minnesota | Dry | $105 | $110 | -$5 | |
Nebraska | Dry | $106 | $112 | -$6 | |
New York | Dry | $140 | $140 | $0 | |
North Dakota | Dry | $105 | $110 | -$5 | |
Ohio | Dry | $110 | $115 | -$5 | |
South Dakota | Dry | $100 | $105 | -$5 | |
Wisconsin | Dry | $110 | $109 | $1 | |
Valero Energy Corp., San Antonio, TX (402-932-5901) | |||||
Indiana | Dry | $105 | $105 | $0 | |
Iowa | Dry | $105 | $105 | $0 | |
Minnesota | Dry | $105 | $105 | $0 | |
Nebraska | Dry | $108 | $108 | $0 | |
Ohio | Dry | $110 | $110 | $0 | |
South Dakota | Dry | $95 | $95 | $0 | |
California | $172 | $178 | -$6 | ||
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $186 | $186 | $0 | |
*Prices listed per ton. | |||||
Weekly Average | $110 | $112 | -$2 | ||
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 | 8/3/2017 | $3.6350 | $129.82 |
Soybean Meal | 8/3/2017 | $306.30 | |
DDG Weekly Average Spot Price | $107.00 | ||
DDG Value Relative to: | 8/3 | 7/27 | |
Corn | 84.73% | 83.79% | |
Soybean Meal | 35.91% | 34.75% | |
Cost Per Unit of Protein: | |||
DDG | $4.07 | $4.15 | |
Soybean Meal | $6.45 | $6.79 | |
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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