DDG Weekly Update
22 Apr 2019
By Mary Kennedy
DTN Cash Grains Analyst
OMAHA (DTN) -- The domestic distillers dried grains (DDG) average spot price from the 40 locations DTN contacted was down 5 cents at $134 per ton for the week ended April 18, versus the prior week. Spot DDG truck prices were lower as demand has slowed, along with added pressure coming from continued weakness in the corn market.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 18 was at 104.66%. The value of DDG relative to soybean meal was at 44.19%. The cost per unit of protein for DDG was $4.96, compared to the cost per unit of protein for soybean meal at $6.38. Soymeal prices have been moving lower most of the week as the soybean futures fell to their lowest price in 2019 at midweek.
The U.S. Census Bureau said Wednesday that U.S. exports of distillers dried grain with solubles (DDGS) totaled 686,005 metric tons (mt) in February, down from 806,615 mt in January and down 18% from a year ago. Mexico was the top destination in February, taking 24% of U.S. exports, followed by the usual list of South Korea, Indonesia, and Vietnam. In the first two months of 2019, U.S. exports of DDGS were down 14% from a year ago.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE |
| COMPANY | STATE | | 4/18/2019 | 4/11/2019 | |
| Bartlett and Company, Kansas City, MO (816-753-6300) | |
| Missouri | Dry | $140 | $145 | -$5 |
| | Wet | $75 | $78 | -$3 |
| | | | | |
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) |
| Missouri Subject | Dry | $135 | $145 | -$10 |
| | Wet | $75 | $80 | -$5 |
| | | | | |
| CHS, Minneapolis, MN (800-769-1066) |
| Illinois | Dry | $137 | $142 | -$5 |
| Indiana | Dry | $135 | $140 | -$5 |
| Iowa | Dry | $125 | $130 | -$5 |
| Michigan | Dry | $135 | $140 | -$5 |
| Minnesota | Dry | $125 | $130 | -$5 |
| North Dakota | Dry | $125 | $130 | -$5 |
| New York | Dry | $140 | $145 | -$5 |
| South Dakota | Dry | $125 | $130 | -$5 |
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) |
| Kansas | Dry | $130 | $145 | -$15 |
| POET Nutrition, Sioux Falls, SD (888-327-8799) |
| Indiana | Dry | $140 | $145 | -$5 |
| Iowa | Dry | $130 | $135 | -$5 |
| Michigan | Dry | $130 | $130 | $0 |
| Minnesota | Dry | $130 | $130 | $0 |
| Missouri | Dry | $150 | $150 | $0 |
| Ohio | Dry | $140 | $140 | $0 |
| South Dakota | Dry | $140 | $140 | $0 |
| United BioEnergy, Wichita, KS (316-616-3521) |
| Kansas | Dry | $140 | $140 | $0 |
| | Wet | $60 | $60 | $0 |
| Illinois | Dry | $148 | $148 | $0 |
| Nebraska | Dry | $140 | $140 | $0 |
| | Wet | $60 | $60 | $0 |
| U.S. Commodities, Minneapolis, MN (888-293-1640) |
| Illinois | Dry | $130 | $135 | -$5 |
| Indiana | Dry | $125 | $130 | -$5 |
| Iowa | Dry | $125 | $130 | -$5 |
| Michigan | Dry | $125 | $130 | -$5 |
| Minnesota | Dry | $125 | $130 | -$5 |
| Nebraska | Dry | $125 | $145 | -$20 |
| New York | Dry | $150 | $155 | -$5 |
| North Dakota | Dry | $140 | $150 | -$10 |
| Ohio | Dry | $140 | $145 | -$5 |
| South Dakota | Dry | $130 | $140 | -$10 |
| Wisconsin | Dry | $130 | $135 | -$5 |
| Valero Energy Corp, San Antonio Texas | (210-345-3362) | (210-345-3362) |
| Indiana | Dry | $140 | $140 | $0 |
| Iowa | Dry | $135 | $140 | -$5 |
| Minnesota | Dry | $130 | $130 | $0 |
| Nebraska | Dry | $135 | $150 | -$15 |
| Ohio | Dry | $145 | $145 | $0 |
| South Dakota | Dry | $136 | $140 | -$4 |
| California | Dry | $190 | $195 | -$5 |
| Western Milling, Goshen, California (559-302-1074) |
| California | Dry | $208 | $215 | -$7 |
| *Prices listed per ton. |
| Weekly Average | | $134 | $139 | -$5 |
| 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 | 4/18/2019 | $3.5850 | $128.04 |
| Soybean Meal | 4/18/2019 | $303.20 |
| DDG Weekly Average Spot Price | $134.00 |
| DDG Value Relative to: | 4/18 | 4/11 |
| Corn | 104.66% | 108.11% |
| Soybean Meal | 44.19% | 45.25% |
| Cost Per Unit of Protein: |
| DDG | $4.96 | $5.15 |
| Soybean Meal | $6.38 | $6.47 |
| 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
(BAS/CZ)
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