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DDG Weekly Update 05/29 12:29
DTN Weekly Average DDG Price Lower
DTN's weekly average spot price for domestic distillers dried grains was
lower.
Mary Kennedy
DTN Basis Analyst
OMAHA (DTN) -- Of the 40 locations DTN contacted that showed offers for
domestic distillers dried grains (DDG) for the week ended May 28, posted offers
averaged $141 per ton, down $2 versus the prior week.
The cash corn price has improved on average versus one week ago and basis
has strengthened, but that has had little effect on current DDG prices.
However, with DDG prices moving lower recently and plant production picking up,
cattle and hog producers have started to use DDG again in rations.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended May 28 was 120.55%. The value of DDG relative to
soybean meal was 49.59%. The cost per unit of protein for DDG was $5.22,
compared to the cost per unit of protein for soybean meal at $5.99.
Wednesday's Energy Information Administration ethanol report showed for the
week ended May 22 that ethanol inventory was drawn down for the fifth
consecutive week falling 400,000 bbl, to a 23.2 million bbl 19-week low, with
supply 16.2% below a record high reached on April 17. Plant production outpaced
the gain in blending activity for the week, up 61,000 barrels per day (bpd) to
a 724,000 bpd eight-week high, the fourth consecutive week with higher output
after falling to a more than 10-year low at 537,000 bpd. During the four-week
period ended May 22, plant production averaged 38.2% below one 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 5/28/2020 5/21/2020
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $140 $145 -$5
Wet $70 $73 -$3
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Dry $140 $140 $0
Wet $75 $75 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $155 $155 $0
Indiana Dry $145 $145 $0
Iowa Dry $130 $130 $0
Michigan Dry $150 $150 $0
Minnesota Dry $130 $130 $0
North Dakota Dry $130 $130 $0
New York Dry $195 $195 $0
South Dakota Dry $125 $125 $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas APRIL Dry $130 $130 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $150 $155 -$5
Iowa Dry $142 $145 -$3
Michigan Dry $155 $160 -$5
Minnesota Dry $144 $145 -$1
Missouri Dry $155 $155 $0
Ohio Dry $150 $155 -$5
South Dakota Dry $150 $155 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $0 $0 $0
Wet $0 $0 $0
Illinois MARCH Dry $0 $0 $0
Nebraska Dry $0 $0 $0
Wet $0 $0 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $145 $145 $0
Indiana Dry $150 $150 $0
Iowa Dry $130 $130 $0
Michigan Dry $145 $155 -$10
Minnesota Dry $130 $130 $0
Nebraska Dry $115 $120 -$5
New York Dry $165 $170 -$5
North Dakota Dry $120 $130 -$10
Ohio Dry $150 $150 $0
South Dakota Dry $110 $125 -$15
Wisconsin Dry $140 $150 -$10
Valero Energy Corp, San Antonio Texas
Indiana Dry $165 $165 $0
Iowa Dry $0 $0 $0
Minnesota Dry $0 $0 $0
Nebraska Dry $0 $0 $0
Ohio Dry $155 $155 $0
South Dakota Dry $0 $0 $0
California Dry $0 $0 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $205 $210 -$5
*Prices listed per ton.
Weekly Average $141 $143 -$2
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 5/28/2020 $3.2750 $116.96
Soybean Meal 5/28/2020 $284.30
DDG Weekly Average Spot Price $141.00
DDG Value Relative to: 5/28 5/22
Corn 120.55% 126.01%
Soybean Meal 49.59% 50.62%
Cost Per Unit of Protein:
DDG $5.22 $5.30
Soybean Meal $5.99 $5.95
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 2020 DTN, LLC. All rights reserved.
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