Market Matters Blog

DDG Prices Steady on Average

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
Connect with Mary:
DTN's weekly spot price for domestic distillers dried grains was unchanged on average at $134 per ton. (DTN file photo by Elaine Shein)

OMAHA (DTN) -- Distillers dried grains spot prices from the 40 locations DTN contacted were mixed, but the average price was steady at $134 per ton for the week ended Nov. 1, versus one week ago.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 1 was at 102.30%. The value of DDG relative to soybean meal was at 42.78%. The cost per unit of protein for DDG was $4.96, compared to the cost per unit of protein for soybean meal at $6.60.

DDG prices remained steady on average this week as corn and soymeal futures fluctuated. Supplies remain plentiful as the EIA said ethanol plant production increased 35,000 barrels per day (bpd) to a two-month high at 1.059 million bpd during the week ended Oct. 26, 0.3% higher than the corresponding week in 2017.

In its weekly distillers dried grains with solubles (DDGS) price update, U.S. Grains Council noted, "The market remained quiet this week, with a few inquiries from Asian buyers reported. Indications for November delivery of 40-foot containers to Southeast Asia are unchanged this week from last week's figure. Overall, Taiwan saw the largest increase (+$3 per metric ton). At the U.S. Gulf, indications for November delivery were up $2 per metric ton, while U.S. rail rates fell slightly."

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS
COMPANY STATE 11/1/2018 10/25/2018
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $145 $148
Modified $75 $78
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Dry $145 $145
Wet $75 $75
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $145 $145
Indiana Dry $134 $132
Iowa Dry $130 $130
Michigan Dry $135 $140
Minnesota Dry $125 $130
North Dakota Dry $130 $130
New York Dry $145 $155
South Dakota Dry $125 $130
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $143 $142
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $132 $130
Iowa Dry $132 $127
Michigan Dry $132 $132
Minnesota Dry $133 $132
Missouri Dry $145 $142
Ohio Dry $137 $137
South Dakota Dry $131 $130
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $144 $132
Wet $55 $55
Illinois Dry $145 $145
Nebraska Dry $144 $132
Wet $55 $55
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Subject Dry $130 $130
Indiana Subject Dry $130 $130
Iowa Subject Dry $125 $125
Michigan Subject Dry $135 $135
Minnesota Subject Dry $125 $125
Nebraska Subject Dry $135 $135
New York Subject Dry $140 $140
North Dak Subject Dry $140 $140
Ohio Subject Dry $125 $125
South Dak Subject Dry $125 $125
Wisconsin Subject Dry $130 $130
Valero Energy Corp, San Antonio Texas (210-345-3362) (210-345-3362)
Indiana Dry $140 $140
Iowa Dry $125 $125
Minnesota Dry $130 $130
Nebraska Dry $125 $135
Ohio Dry $140 $140
South Dakota Dry $125 $125
California $187 $187
Western Milling, Goshen, California (559-302-1074)
California Dry $195 $197
*Prices listed per ton.
Weekly Average $134 $134
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 11/1/2018 $3.6675 $130.98
Soybean Meal 11/1/2018 $313.40
DDG Weekly Average Spot Price $134.00
DDG Value Relative to: 11/1 10/25
Corn 102.30% 103.93%
Soybean Meal 42.78% 44.03%
Cost Per Unit of Protein:
DDG $4.96 $4.96
Soybean Meal $6.60 $6.41
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

(BAS/ES)

Comments

To comment, please Log In or Join our Community .