DDG Weekly – Spot Prices Mixed, Shutdowns Keep Supplies Balanced – DTN

Large Pile of Dried Distillers Grains (DDGS) at Golden Grain Energy in Mason City, Iowa. Photo: Iowa Renewable Fuels Association

Distillers dried grains spot prices from the 40 locations DTN contacted were mixed, but on average $1 per ton lower at $133 per ton versus one week ago for the week ended Oct. 4.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 4 was at 101.33%. The value of DDG relative to soybean meal was at 43.13%. The cost per unit of protein for DDG was $4.93, compared to the cost per unit of protein for soybean meal at $6.49. Some maintenance shutdowns are keeping supplies in balance with demand so far, and prices remain range-bound. Wednesday’s EIA report showed weekly ethanol production for the week ended Sept. 28 was down from the prior week.

In their weekly distillers dried grains with solubles (DDGS) price update, U.S. Grains Council noted, “DDGS prices are mixed this week. On average, prices for 40-foot containers to Southeast Asia were up $3/metric ton (MT) for October delivery, with containers to Vietnam seeing the largest increase (+$6/MT). Container rates to Japan were steady. DDGS at the Gulf fell $1/MT from last week to $185/MT while indications for rail-delivered Pacific Northwest fell $3/MT.

This week, merchandisers reported a general pickup in demand from Asia, with sales reported to Southeast Asian markets Indonesia and Thailand.”

The U.S. Census Bureau said Friday that U.S. exports of DDGS totaled 1,155,961 MT in August, up 52% from a year ago. Mexico, South Korea, and Vietnam were the top three destinations in August, accounting for 35% of the total. The first eight months of U.S. DDGS exports were up 9% in 2018 from a year ago.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 10/4/2018 9/27/2018
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $145 $145 $0
Modified $75 $75 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Dry $145 $145 $0
Wet $75 $75 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $140 $140 $0
Indiana Dry $132 $132 $0
Iowa Dry $130 $130 $0
Michigan Dry $140 $140 $0
Minnesota Dry $130 $130 $0
North Dakota Dry $130 $130 $0
New York Dry $155 $155 $0
South Dakota Dry $130 $130 $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $142 $140 $2
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $128 $132 -$4
Iowa Dry $127 $130 -$3
Michigan Dry $139 $142 -$3
Minnesota Dry $130 $132 -$2
Missouri Dry $143 $147 -$4
Ohio Dry $135 $138 -$3
South Dakota Dry $130 $130 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $135 $135 $0
Wet $55 $55 $0
Illinois Dry $148 $148 $0
Nebraska Dry $135 $135 $0
Wet $55 $55 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $130 $130 $0
Indiana Dry $130 $130 $0
Iowa Dry $125 $125 $0
Michigan Dry $135 $130 $5
Minnesota Dry $125 $120 $5
Nebraska Dry $135 $135 $0
New York Dry $140 $140 $0
North Dakota Dry $140 $145 -$5
Ohio Dry $125 $125 $0
South Dakota Dry $125 $125 $0
Wisconsin Dry $130 $125 $5
Valero Energy Corp, San Antonio Texas (210-345-3362) (210-345-3362)
Indiana Dry $135 $135 $0
Iowa Dry $130 $130 $0
Minnesota Dry $130 $130 $0
Nebraska Dry $130 $130 $0
Ohio Dry $135 $135 $0
South Dakota Dry $125 $125 $0
California $187 $187 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $195 $197 -$2
*Prices listed per ton.
Weekly Average $133 $134 -$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 10/4/2018 $3.6750 $131.25
Soybean Meal 10/4/2018 $308.40
DDG Weekly Average Spot Price $133.00
DDG Value Relative to: 10/4 9/27
Corn 101.33% 102.86%
Soybean Meal 43.13% 43.48%
Cost Per Unit of Protein:
DDG $4.93 $4.96
Soybean Meal $6.49 $6.49
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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