DDG Weekly: Steady to Higher Prices – DTN

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

The domestic distillers dried grains (DDG) average spot price from the 40 locations DTN contacted was $4 higher this week versus the prior week, at $141 per ton for the week ended June 20. Prices overall were steady to higher, as the cash price of corn continues higher. The DTN National Corn Index gained 11 cents versus one week ago.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 20 was at 87.73% and, while higher this week versus last, it is still below the five-year average. The value of DDG relative to soybean meal was at 43.65%. The cost per unit of protein for DDG was $5.22, compared to the cost per unit of protein for soybean meal at $6.80.

The EIA reported for the week ended June 14, ethanol supply in the U.S. was drawn down for the fourth consecutive week, falling 200,000 bbl to a one-year low at 21.6 million bbl.

Weekly ethanol production was down, week over week, by 1.4% and up by 1.6% year over year.

In its weekly update, the U.S. Grains Council noted DDGS indications were higher again this week.

“Market stakeholders report a mostly quiet market this week. DDGS indications for FOB vessel Gulf are down slightly from last week, while July delivery is becoming harder to find. Indications for 40-foot containers to Southeast Asia recovered from last week’s drop, increasing $3/mt on average. Merchandisers report continued interest from Indonesia and Vietnam, and new sales to South Korea (August delivery), new sales to Indonesia and continued strong interest from buyers in Vietnam.”

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 6/20/2019 6/13/2019
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $150 $145 $5
Wet $80 $75 $5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Subject Dry $145 $145 $0
Wet $75 $75 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $150 $150 $0
Indiana Dry $145 $145 $0
Iowa Dry $135 $135 $0
Michigan Dry $145 $145 $0
Minnesota Dry $135 $135 $0
North Dakota Dry $135 $135 $0
New York Dry $155 $155 $0
South Dakota Dry $135 $135 $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $138 $135 $3
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $160 $140 $20
Iowa Dry $145 $135 $10
Michigan Dry $150 $130 $20
Minnesota Dry $145 $135 $10
Missouri Dry $165 $140 $25
Ohio Dry $165 $150 $15
South Dakota Dry $145 $145 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $120 $120 $0
Wet $45 $45 $0
Illinois Dry $140 $140 $0
Nebraska Dry $120 $120 $0
Wet $45 $45 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $140 $140 $0
Indiana Dry $140 $140 $0
Iowa Dry $135 $135 $0
Michigan Dry $135 $135 $0
Minnesota Dry $130 $130 $0
Nebraska Dry $130 $130 $0
New York Dry $150 $150 $0
North Dakota Dry $140 $140 $0
Ohio Dry $150 $150 $0
South Dakota Dry $130 $130 $0
Wisconsin Dry $135 $130 $5
Valero Energy Corp, San Antonio Texas (210-345-3362) (210-345-3362)
Indiana Dry $140 $140 $0
Iowa Dry $135 $125 $10
Minnesota Dry $135 $125 $10
Nebraska Dry $135 $135 $0
Ohio Dry $150 $150 $0
South Dakota Dry $130 $130 $0
California Dry $202 $205 -$3
Western Milling, Goshen, California (559-302-1074)
California Dry $220 $215 $5
*Prices listed per ton.
Weekly Average $141 $137 $4
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 6/20/2019 $4.5000 $160.71
Soybean Meal 6/20/2019 $323.00
DDG Weekly Average Spot Price $141.00
DDG Value Relative to: 6/20 6/13
Corn 87.73% 86.79%
Soybean Meal 43.65% 42.59%
Cost Per Unit of Protein:
DDG $5.22 $5.07
Soybean Meal $6.80 $6.77
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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