Distiller’s Grains: Down on Corn, Soy Weakness, Lack of Buyers – DTN

Distillers grain.

The DTN average price for domestic distillers dried grains (DDG) with all 40 locations reporting this week ended June 17 was $189 per ton, down $17 from one week ago. DDG prices were sharply lower, due in part to the limit down close in corn on Thursday and the limit down moves in soybeans and soybean oil, pushing soybean meal lower. In addition, there has been plenty of DDG supply at plants and not enough spot buyers.

Wednesday’s Energy Information Administration report showed domestic ethanol plant production dropped 42,000 barrels per day (bpd) to 1.025 million bpd while four-week average output was 1.034 million bpd, down 2,000 bpd from the four-week average the prior week.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 17 was 83.60% versus the three-year average of 110%. The value of DDG relative to soybean meal was 52.28% versus the three-year average of 42%. The cost per unit of protein for DDG was $7.00, compared to the cost per unit of protein for soybean meal at $7.61.

In their weekly DDGS export price update, the U.S. Grains Council said, “On the international market, DDGS values are also lower with buyers assessing the freight market rally and the recent decline in CBOT futures. Barge CIF NOLA offers are down $3 per metric ton (MT) this week while FOB Gulf offers are $28-30/MT weaker, averaging $246/MT for July shipment.

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“Prices for 40-foot containers to Southeast Asia are mixed, with offers for product into Myanmar and Thailand $3 to $4/MT higher while prices into Malaysia and Vietnam are down $4/MT. On average, containers to Southeast Asia are priced at $332/MT this week, down $3/MT from last week’s trade.”

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

ALL PRICES SUBJECT TO CONFIRMATION CURRENT CURRENT CHANGE
COMPANY STATE 6/17/2021 6/10/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $195 $220 -$25
Wet $98 $110 -$12
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $180 $215 -$35
Wet $85 $105 -$20
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $185 $210 -$25
Indiana Dry $185 $205 -$20
Iowa Dry $190 $210 -$20
Michigan Dry $185 $205 -$20
Minnesota Dry $180 $195 -$15
North Dakota Dry $175 $195 -$20
New York Dry $220 $235 -$15
South Dakota Dry $180 $195 -$15
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $195 $210 -$15
Iowa Dry $199 $210 -$11
Michigan Dry $200 $210 -$10
Minnesota Dry $190 $210 -$20
Missouri Dry $219 $230 -$11
Ohio Dry $195 $210 -$15
South Dakota Dry $199 $210 -$11
Nebraska Dry $195 $200 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $200 $230 -$30
Wet $80 $85 -$5
Illinois Dry $200 $215 -$15
Nebraska Dry $200 $230 -$30
Wet $80 $85 -$5
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $190 $205 -$15
Indiana Dry $190 $208 -$18
Iowa Dry $175 $200 -$25
Michigan Dry $190 $205 -$15
Minnesota Dry $175 $195 -$20
Nebraska Dry $165 $190 -$25
New York Dry $235 $255 -$20
North Dakota Dry $190 $205 -$15
Ohio Dry $205 $205 $0
South Dakota Dry $170 $195 -$25
Wisconsin Dry $175 $195 -$20
Valero Energy Corp, San Antonio, Texas
Indiana Dry $200 $210 -$10
Iowa Dry $190 $200 -$10
Minnesota Dry $180 $195 -$15
Nebraska Dry $180 $200 -$20
Ohio Dry $200 $210 -$10
South Dakota Dry $195 $200 -$5
Western Milling, Goshen, California (559-302-1074)
California Dry $260 $280 -$20
*Prices listed per ton.
Weekly Average $189 $206 -$17
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 6/17/2021 $6.3300 $226.07
Soybean Meal 6/17/2021 $361.50
DDG Weekly Average Spot Price $189.00
DDG Value Relative to: 6/17 6/10
Corn 83.60% 82.52%
Soybean Meal 52.28% 53.98%
Cost Per Unit of Protein:
DDG $7.00 $7.63
Soybean Meal $7.61 $8.03
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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