Market Matters Blog
DDG Prices Lower
OMAHA (DTN) -- Distillers dried grains spot prices from the 40 locations DTN contacted were mixed, but on average were $2 per ton lower versus one week ago at $132 per ton for the week ended Sept. 13.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sept. 13 was at 109.91%. The value of DDG relative to soybean meal was at 42.40%. The cost per unit of protein for DDG was $4.89, compared to the cost per unit of protein for soybean meal at $6.55.
DDG and all corn byproduct feed prices came under pressure Wednesday after the December corn futures lost 14 cents in the front month thanks to USDA predicting a record crop, way above market expectations. DDG supplies are still in good shape even after a slowdown in ethanol production last week. EIA said plant production slid 67,000 bpd to 1.020 million bpd during the week ended Sept. 7, 2.6% lower than the corresponding week in 2017.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
In its weekly DDGS price update, the U.S. Grains Council noted, "DDGS prices were generally down across the board; FOB Gulf indications fell $3/mt while container rates to Southeast Asia fell $4/mt on average. Prices fell for 40-foot containers to Vietnam (-$5/mt), Thailand (-$3/mt) and Indonesia (-$3/mt); in turn, merchandisers report a flurry of buying activity in those markets. Finally, USDA reported that exports of U.S. DDGS are up 2.2% year-over-year in 2017/2018 to 10.5 mmt."
ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
COMPANY | STATE | 9/13/2018 | 9/6/2018 | ||
Bartlett and Company, Kansas City, MO (816-753-6300) | |||||
Missouri | Dry | $145 | $155 | -$10 | |
Modified | $75 | $78 | -$3 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Missouri | Dry | $140 | $150 | -$10 | |
Wet | $75 | $83 | -$8 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $142 | $145 | -$3 | |
Indiana | Dry | $135 | $140 | -$5 | |
Iowa | Dry | $135 | $135 | $0 | |
Michigan | Dry | $142 | $140 | $2 | |
Minnesota | Dry | $130 | $125 | $5 | |
North Dakota | Dry | $125 | $125 | $0 | |
New York | Dry | $162 | $160 | $2 | |
South Dakota | Dry | $125 | $125 | $0 | |
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) | |||||
Kansas | Dry | $140 | $145 | -$5 | |
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $136 | $134 | $2 | |
Iowa | Dry | $135 | $135 | $0 | |
Michigan | Dry | $142 | $138 | $4 | |
Minnesota | Dry | $132 | $130 | $2 | |
Missouri | Dry | $151 | $151 | $0 | |
Ohio | Dry | $144 | $142 | $2 | |
South Dakota | Dry | $135 | $135 | $0 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $130 | $135 | -$5 | |
Wet | $40 | $45 | -$5 | ||
Illinois | Dry | $147 | $150 | -$3 | |
Nebraska | Dry | $130 | $135 | -$5 | |
Wet | $40 | $45 | -$5 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $130 | $130 | $0 | |
Indiana | Dry | $127 | $127 | $0 | |
Iowa | Dry | $125 | $125 | $0 | |
Michigan | Dry | $130 | $130 | $0 | |
Minnesota | Dry | $120 | $120 | $0 | |
Nebraska | Dry | $135 | $135 | $0 | |
New York | Dry | $140 | $140 | $0 | |
North Dakota | Dry | $130 | $130 | $0 | |
Ohio | Dry | $130 | $130 | $0 | |
South Dakota | Dry | $120 | $120 | $0 | |
Wisconsin | Dry | $130 | $130 | $0 | |
Valero Energy Corp, San Antonio Texas | (210-345-3362) | (210-345-3362) | |||
Indiana | Dry | $125 | $130 | -$5 | |
Iowa | Dry | $115 | $120 | -$5 | |
Minnesota | Dry | $120 | $125 | -$5 | |
Nebraska | Dry | $135 | $140 | -$5 | |
Ohio | Dry | $135 | $140 | -$5 | |
South Dakota | Dry | $120 | $125 | -$5 | |
California | $185 | $190 | -$5 | ||
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $200 | $205 | -$5 | |
*Prices listed per ton. | |||||
Weekly Average | $132 | $134 | -$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 | 9/13/2018 | $3.3625 | $120.09 |
Soybean Meal | 9/13/2018 | $311.30 | |
DDG Weekly Average Spot Price | $132.00 | ||
DDG Value Relative to: | 9/13 | 9/6 | |
Corn | 109.91% | 106.14% | |
Soybean Meal | 42.40% | 43.09% | |
Cost Per Unit of Protein: | |||
DDG | $4.89 | $4.96 | |
Soybean Meal | $6.55 | $6.55 | |
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
(CZ)
© Copyright 2018 DTN/The Progressive Farmer. All rights reserved.
Comments
To comment, please Log In or Join our Community .