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DDG Weekly Update 04/09 11:54
DTN Weekly Average DDG Price Lower
DTN's weekly spot price for domestic distillers dried grains was lower on
average versus a week ago.
Mary Kennedy
DTN Basis Analyst
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG)
from the 39 locations DTN contacted with spot offers for the week ended April 8
was $212 per ton, down $10 from one week ago.
DDG prices were lower as plant production has picked up, creating enough
supply of DDG to meet current demand. As plants head into spring maintenance,
we may see supplies become tighter, but the flip side is that with the warmer
weather and greening pastures, demand may lessen for domestic feeding.
Wednesday's Energy Information Administration report showed Overall ethanol
plant production higher, up 10,000 barrels per day (bpd) or 1% to 975,000 bpd,
the highest level since the week ended Dec. 18, 2020. Four-week average output
at 958,000 bpd was 70,000 bpd higher than the corresponding four weeks in 2020.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended April 8 was 102.39% versus the five-year average of
109%. The value of DDG relative to soybean meal was 52.11% versus the
three-year average of 42%. The cost per unit of protein for DDG was $7.85,
compared to the cost per unit of protein for soybean meal at $8.56.
In their weekly DDGS export price update, the U.S. Grains Council said, "On
the export front, markets are slightly weaker with limited news on fundamental
drivers. Barge CIF NOLA values are down $13 metric ton (mt) for Q2 positions
while FOB NOLA offers are down $15/mt. Prices for 40-foot containers to
Southeast Asia are mostly steady this week at $343/mt for May and June
shipment. Industry sources say general rate increases (GRIs) are planned for
the container market at the end of April and likely again at the end of May."
The U.S. Census Bureau reported this week that U.S. exports of DDGS totaled
779,324 mt in February, down from 916,541 mt in January and down 9% from a year
ago. Mexico was the top destination in February, taking 16% of U.S. exports and
was followed by Indonesia, South Korea and numerous other customers. In the
first two months of 2021, U.S. exports of DDGS are down 7% 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 4/8/2021 3/31/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $225 $225 $0
Wet $113 $113 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $210 $220 -$10
Wet $105 $110 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $208 $225 -$17
Indiana Dry $208 $225 -$17
Iowa Dry $208 $220 -$12
Michigan Dry $210 $225 -$15
Minnesota Dry $210 $220 -$10
North Dakota Dry $210 $220 -$10
New York Dry $225 $250 -$25
South Dakota Dry $208 $220 -$12
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $215 $235 -$20
Iowa Dry $205 $225 -$20
Michigan Dry $210 $230 -$20
Minnesota Dry $205 $225 -$20
Missouri Dry $230 $255 -$25
Ohio Dry $210 $230 -$20
South Dakota Dry $205 $225 -$20
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $230 $230 $0
Wet $85 $85 $0
Illinois Dry $212 $227 -$15
Nebraska Dry $230 $230 $0
Wet $85 $85 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $215 $215 $0
Indiana Dry $215 $215 $0
Iowa Dry $205 $205 $0
Michigan Dry $210 $210 $0
Minnesota Dry $210 $210 $0
Nebraska Dry $210 $210 $0
New York Dry $240 $240 $0
North Dakota Dry $210 $210 $0
Ohio Dry $210 $210 $0
South Dakota Dry $200 $200 $0
Wisconsin Dry $205 $205 $0
Valero Energy Corp, San Antonio, Texas
Indiana Dry $210 $230 -$20
Iowa Dry $0 $0 $0
Minnesota Dry $0 $0 $0
Nebraska Dry $0 $0 $0
Ohio Dry $220 $240 -$20
South Dakota Dry $0 $0 $0
California Dry $0 $0 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $286 $285 $1
*Prices listed per ton.
Weekly Average $212 $222 -$10
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 4/8/2021 $5.7975 $207.05
Soybean Meal 4/8/2021 $406.80
DDG Weekly Average Spot Price $212.00
DDG Value Relative to: 4/8 3/31
Corn 102.39% 110.16%
Soybean Meal 52.11% 52.46%
Cost Per Unit of Protein:
DDG $7.85 $8.22
Soybean Meal $8.56 $8.91
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
(c) Copyright 2021 DTN, LLC. All rights reserved.
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