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DDG Weekly Update 06/24 12:08
DTN Weekly DDG Average Price Continues to Weaken
DTN's weekly average spot price for domestic distillers dried grains was $7
lower on average versus one week ago.
Mary Kennedy
DTN Basis Analyst
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains
(DDG) from 34 locations reporting for the week ended June 23 was $231 per ton,
down $7 on average versus one week ago. Prices continue to move lower, under
pressure from lower corn and soybean meal prices and lack of demand nearby. The
DTN National Corn Index is down 44 cents versus one week ago.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended June 23 was 86.61%. The value of DDG relative to
soybean meal was 54.14%, and the cost per unit of protein for DDG was $8.56,
compared to the cost per unit of protein for soybean meal at $8.98.
In its weekly DDGS export update, the U.S. Grains Council said: "The
volatility in outside grain and feed markets has impacted the DDGS market and
indications are wide-ranging. Barge CIF NOLA offers are $4 to $6 metric ton
(mt) higher, on average, with barge freight driving much of the increase. FOB
NOLA offers are up $4 to $5/mt for spot shipment and up $2 to $3/mt for
deferred positions. Prices for 40-foot containers to Southeast Asia are widely
mixed this week with lower offers for product into the Philippines, Indonesia,
and Malaysia (averaging $9/mt declines) but higher rates for product to
Vietnam, Bangladesh, and Myanmar. The average price for containerized DDGS to
Southeast Asia hit $414/mt this week."
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 6/23/2022 6/16/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $255 $260 -$5
Wet $150 $150 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $255 $255 $0
Wet $125 $125 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $230 $240 -$10
Indiana Dry $230 $235 -$5
Iowa Dry $225 $230 -$5
Michigan Dry $220 $230 -$10
Minnesota Dry $215 $225 -$10
New York Dry $230 $230 $0
South Dakota Dry $220 $240 -$20
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $220 $237 -$17
Wet $70 $77 -$7
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $250 $257 -$7
Iowa Dry $240 $240 $0
Michigan Dry $245 $255 -$10
Minnesota Dry $250 $250 $0
Missouri Dry $270 $270 $0
Ohio Dry $250 $260 -$10
South Dakota Dry $240 $240 $0
Nebraska Dry $240 $240 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $240 $240 $0
Wet $90 $90 $0
Illinois Dry $240 $250 -$10
Nebraska Dry $230 $230 $0
Wet $90 $90 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $220 $230 -$10
Indiana Dry $225 $235 -$10
Iowa Dry $200 $210 -$10
Michigan Dry $230 $240 -$10
Minnesota Dry $200 $210 -$10
Nebraska Dry $220 $230 -$10
New York Dry $235 $245 -$10
North Dakota Dry $235 $245 -$10
Ohio Dry $220 $230 -$10
South Dakota Dry $210 $215 -$5
Wisconsin Dry $215 $225 -$10
Western Kansas Dry $265 $265 $0
Wet $115 $125 -10
Western Milling, Goshen, California (559-302-1074)
California SUBJECT Dry $360 $360 $0
**Weekly Average: $231 $238 -$7
(Prices listed per ton)
**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 6/23/2022 $7.4675 $266.70
Soybean Meal 6/23/2022 $426.70
DDG Weekly Average Spot Price $231.00
DDG Value Relative to: 6/23 6/16
Corn 86.61% 84.54%
Soybean Meal 54.14% 55.39%
Cost Per Unit of Protein:
DDG $8.56 $8.81
Soybean Meal $8.98 $9.05
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 2022 DTN, LLC. All rights reserved.
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