DDG Weekly Prices Move Higher – DTN

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

The average price for domestic distillers dried grains (DDG) from the 40 locations DTN contacted with spot offers for the week ended Sept. 3 was $142 per ton, up $2 versus the prior week. DDG prices were steady to mixed for the week as some sellers noted domestic demand has been steady and corn prices haven’t been as strong as in late August. The DTN National Corn Index Sept. 3 was 1 cent lower versus one week ago.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sept. 3 was 115.41% versus the 5-year average of 109.00%. The value of DDG relative to soybean meal was 46.53%. The cost per unit of protein for DDG was $5.26, compared to the cost per unit of protein for soybean meal at $6.43.

In their weekly export DDGS report, the U.S. Grains Council said, “DDGS export offers are mixed. Barge CIF NOLA DDGS are down $3/metric ton (mt) for spot shipment and FOB Gulf offers are down an equal amount. Offers for DDGS in 40-foot containers destined for Southeast Asia are up $1 to $2/mt as international demand is starting to pick up for fall positions.”

The Energy Information Administration reported Sept. 2 that for the week ended Aug. 28, ethanol inventory was higher for a third consecutive week, rising 2.5% to a 10-week high, though demand edged up and production moved lower. Ethanol plant production decreased after two weeks of gains, falling 9,000 barrels per day (bpd) in the week profiled to 922,000 bpd, which was 10.6% lower than the corresponding week in 2019.

The U.S. Census Bureau reported Thursday that U.S. exports of DDGS totaled 1,083,008 mt in July, up from 883,193 mt in June and up 26% from a year ago. Mexico was the top destination in July, taking 15% of U.S. exports and was followed by Turkey and Thailand. For the first seven months of 2020, U.S. exports of DDGS were down 2% from a year ago.

NOTE: All prices listed below can change at any time and are subject to confirmation from seller.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 9/3/2020 8/27/2020
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $158 $155 $3
Wet $79 $78 $1
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Subject Dry $155 $150 $5
Wet $78 $78 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $155 $155 $0
Indiana Dry $145 $145 $0
Iowa Dry $140 $133 $7
Michigan Dry $145 $145 $0
Minnesota Dry $130 $135 -$5
North Dakota Dry $125 $125 $0
New York Dry $150 $150 $0
South Dakota Dry $125 $125 $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $150 $145 $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $150 $150 $0
Iowa Dry $135 $135 $0
Michigan Dry $140 $140 $0
Minnesota Dry $132 $132 $0
Missouri Dry $160 $160 $0
Ohio Dry $150 $150 $0
South Dakota Dry $133 $133 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $140 $140 $0
Wet $45 $45 $0
Illinois Dry $153 $153 $0
Nebraska Dry $140 $140 $0
Wet $45 $45 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $142 $142 $0
Indiana Dry $142 $142 $0
Iowa Dry $135 $135 $0
Michigan Dry $140 $140 $0
Minnesota Dry $133 $133 $0
Nebraska Dry $145 $145 $0
New York Dry $155 $155 $0
North Dakota Dry $125 $125 $0
Ohio Dry $150 $150 $0
South Dakota Dry $125 $125 $0
Wisconsin Dry $140 $140 $0
Valero Energy Corp, San Antonio Texas
Indiana Dry $153 $158 -$5
Iowa Dry $0 $0 $0
Minnesota Dry $0 $0 $0
Nebraska Dry $0 $0 $0
Ohio Dry $144 $147 -$3
South Dakota Dry $0 $0 $0
California Dry $0 $0 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $212 $210 $2
*Prices listed per ton.
Weekly Average $142 $140 $2
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 9/3/2020 $3.4450 $123.04
Soybean Meal 9/3/2020 $305.20
DDG Weekly Average Spot Price $142.00
DDG Value Relative to: 9/3 8/27
Corn 115.41% 113.87%
Soybean Meal 46.53% 47.47%
Cost Per Unit of Protein:
DDG $5.26 $5.19
Soybean Meal $6.43 $6.21
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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