DDG Weekly Update
6 Jan 2020
By Mary Kennedy
DTN Cash Grains Analyst
OMAHA (DTN) -- The domestic distillers dried grains (DDG) weekly average spot price from the 40 locations DTN contacted was unchanged at $150 per ton for the week ended Jan. 2. Prices have been steady during the holiday break as cash corn prices have been mostly unchanged overall.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Jan. 2 was at 107.28%. The value of DDG relative to soybean meal was at 49.90%. The cost per unit of protein for DDG was $5.56, compared to the cost per unit of protein for soybean meal at $6.33.
In its weekly export DDGS update, the U.S. Grains Council noted, "DDGS markets are quiet this week with the New Year's holiday dampening trading activity. Merchandisers report that between the holiday, staff vacations, and no significant logistics issues, markets are thinly traded and prices are mostly in-line with the prior two week's values. Indications for January DDGS FOB NOLA are steady while offers for February and March are down $1/MT from last week. Conversely, prices for 40-foot containers to Southeast Asia are up $1/MT for deferred months, while spot values are unchanged at $246/MT."
* CIF (cost, insurance and freight paid by seller) NOLA (New Orleans)
* FOB (free on board means buyer pays costs of ocean freight, insurance, unloading, and transportation from originating port)
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE |
| COMPANY | STATE | | 1/2/2020 | 12/19/2019 | |
| Bartlett and Company, Kansas City, MO (816-753-6300) | |
| Missouri | Dry | $165 | $165 | $0 |
| | Wet | $83 | $83 | $0 |
| | | | | |
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) |
| Missouri | Dry | $165 | $165 | $0 |
| | Wet | $80 | $80 | $0 |
| | | |
| CHS, Minneapolis, MN (800-769-1066) |
| Illinois | Dry | $155 | $145 | $10 |
| Indiana | Dry | $150 | $150 | $0 |
| Iowa | Dry | $140 | $140 | $0 |
| Michigan | Dry | $145 | $150 | -$5 |
| Minnesota | Dry | $140 | $140 | $0 |
| North Dakota | Dry | $145 | $145 | $0 |
| New York | Dry | $155 | $155 | $0 |
| South Dakota | Dry | $140 | $140 | $0 |
|
| MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253) |
| Kansas | Dry | $160 | $160 | $0 |
|
| POET Nutrition, Sioux Falls, SD (888-327-8799) |
| Indiana | Dry | $155 | $155 | $0 |
| Iowa | Dry | $140 | $142 | -$2 |
| Michigan | Dry | $145 | $145 | $0 |
| Minnesota | Dry | $139 | $140 | -$1 |
| Missouri | Dry | $158 | $160 | -$2 |
| Ohio | Dry | $160 | $155 | $5 |
| South Dakota | Dry | $158 | $152 | $6 |
|
| United BioEnergy, Wichita, KS (316-616-3521) |
| Kansas | Dry | $165 | $165 | $0 |
| | Wet | $65 | $65 | $0 |
| Illinois FEB | Dry | $160 | $155 | $5 |
| Nebraska | Dry | $160 | $160 | $0 |
| | Wet | $65 | $65 | $0 |
|
| U.S. Commodities, Minneapolis, MN (888-293-1640) |
| Subject | Illinois | Dry | $155 | $155 | $0 |
| Subject | Indiana | Dry | $155 | $155 | $0 |
| Subject | Iowa | Dry | $145 | $145 | $0 |
| Subject | Michigan | Dry | $150 | $150 | $0 |
| Subject | Minnesota | Dry | $140 | $140 | $0 |
| Subject | Nebraska | Dry | $165 | $165 | $0 |
| Subject | New York | Dry | $170 | $170 | $0 |
| Subject | North Dakota | Dry | $150 | $150 | $0 |
| Subject | Ohio | Dry | $160 | $160 | $0 |
| Subject | South Dakota | Dry | $140 | $140 | $0 |
| Subject | Wisconsin | Dry | $140 | $140 | $0 |
| Valero Energy Corp, San Antonio Texas |
| Indiana | Dry | $150 | $150 | $0 |
| Iowa | Dry | $135 | $135 | $0 |
| Minnesota | Dry | $135 | $135 | $0 |
| Nebraska | Dry | $145 | $145 | $0 |
| Ohio | Dry | $155 | $155 | $0 |
| South Dakota | Dry | $140 | $140 | $0 |
| California | Dry | $208 | $208 | $0 |
| Western Milling, Goshen, California (559-302-1074) |
| California | Dry | $216 | $218 | -$2 |
| *Prices listed per ton. |
| Weekly Average | | $150 | $150 | $0 |
| 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 | 1/2/2020 | $3.9150 | $139.82 |
| Soybean Meal | 1/2/2020 | $300.60 |
| DDG Weekly Average Spot Price | $150.00 |
| DDG Value Relative to: | 1/2 | 12/19 |
| Corn | 107.28% | 108.67% |
| Soybean Meal | 49.90% | 50.27% |
| Cost Per Unit of Protein: |
| DDG | $5.56 | $5.56 |
| Soybean Meal | $6.33 | $6.28 |
| 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
(CZ)
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