DDG Weekly Update

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)