Market Matters Blog
DDG Prices Steady on Average
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.
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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)
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