Distillers Grains: Under Pressure from Weaker Cash Corn Prices – DTN

Distillers grain.

The domestic distillers dried grains (DDG) weekly average spot price from the 40 locations DTN contacted was down $1, to $141 per ton for the week ended Oct. 16. Prices were mixed from various sellers, but overall, the DDG price this week came under some pressure from the weaker cash corn price.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 16 was at 100.78%. The value of DDG relative to soybean meal was at 46.26%. The cost per unit of protein for DDG was $5.22, compared to the cost per unit of protein for soybean meal at $6.42.

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Various closures on the Mississippi River are likely stalling transport of some export containers to the Gulf this week. In the Upper Mississippi River, Locks 16 and 17 have been closed to northbound and southbound traffic since Oct. 13.

American Commercial Barge Line noted that the latest forecasts reflect Lock 17 will reopen the evening of Oct. 17 and Lock 16 will reopen the morning of Oct. 18. Twenty-four hours of transit delays are expected for the cleanup of both locks.

In the Lower Mississippi there is a closure at Mile 249 as of Oct. 16 through Oct. 18 from 07:00-17:00 to southbound tows with four or more barges. At the Gulf, weather fronts moving through the Gulf and Canal areas this week through Oct. 18 will cause intermittent delays there from wind and fog, added ACBL.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 10/16/2019 10/11/2019
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $150 $150 $0
Wet $75 $75 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Subject Dry $147 $147 $0
Wet $75 $75 $0
CHS, Minneapolis, MN (800-769-1066)
Subject Illinois Dry $140 $140 $0
Subject Indiana Dry $140 $140 $0
Subject Iowa Dry $135 $135 $0
Subject Michigan Dry $150 $150 $0
Subject Minnesota Dry $135 $135 $0
Subject North Dakota Dry $130 $130 $0
Subject New York Dry $150 $150 $0
Subject South Dakota Dry $125 $125 $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $145 $145 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $140 $150 -$10
Iowa Dry $140 $145 -$5
Michigan Dry $135 $135 $0
Minnesota Dry $138 $140 -$2
Missouri Dry $143 $145 -$2
Ohio Dry $145 $155 -$10
South Dakota Dry $150 $150 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $145 $140 $5
Wet $55 $45 $10
Illinois Dry $147 $147 $0
Nebraska Dry $135 $145 -$10
Wet $45 $45 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $145 $145 $0
Indiana Dry $155 $155 $0
Iowa Dry $140 $140 $0
Michigan Dry $150 $150 $0
Minnesota Dry $135 $135 $0
Nebraska Dry $140 $140 $0
New York Dry $165 $165 $0
North Dakota Dry $140 $140 $0
Ohio Dry $155 $155 $0
South Dakota Dry $135 $135 $0
Wisconsin Dry $135 $135 $0
Valero Energy Corp, San Antonio Texas (210-345-3362) (210-345-3362)
Indiana Dry $136 $136 $0
Iowa Dry $145 $135 $10
Minnesota Dry $140 $140 $0
Nebraska Dry $135 $135 $0
Ohio Dry $145 $145 $0
South Dakota Dry $135 $135 $0
California Dry $205 $200 $5
Western Milling, Goshen, California (559-302-1074)
California Dry $203 $206 -$3
*Prices listed per ton.
Weekly Average $141 $142 -$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 10/16/2019 $3.9175 $139.91
Soybean Meal 10/16/2019 $304.80
DDG Weekly Average Spot Price $141.00
DDG Value Relative to: 10/16 10/10
Corn 100.78% 104.56%
Soybean Meal 46.26% 46.69%
Cost Per Unit of Protein:
DDG $5.22 $5.26
Soybean Meal $6.42 $6.40
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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