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DDG Weekly Update 08/05 11:48
DTN Weekly DDG Average Price Turns Lower
DTN's weekly average spot price for domestic distillers dried grains was $3
lower versus one week ago.
Mary Kennedy
DTN Basis Analyst
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried
grains (DDG) from 34 locations reporting for the week ended Aug. 4 was $229 per
ton, down $3 versus one week ago. Spot demand is slow this time of year and
with plant production increasing, there are plenty of DDG supplies to move.
The Energy Information Administration (EIA) said Wednesday output at
domestic ethanol plants rose 2.2% or 22,000 barrels per day (bpd) to 1.043
million bpd, 3% higher than the same week in 2021. Ethanol plant output
averaged 1.026 million bpd during the four weeks ended July 29, up 2,000 bpd
versus the same four weeks a year earlier.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended Aug. 4 was 1.07%. The value of DDG relative to
soybean meal was 44.58%, and the cost per unit of protein for DDG was $8.48,
compared to the cost per unit of protein for soybean meal at $10.81. DTN's
estimates moved to utilizing September futures since July has gone off the
board.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF
NOLA DDGS values are down $15 metric ton (mt) for spot shipment but saw better
support in deferred positions. FOB NOLA values are down $11/mt for last-half
August and September shipment and down $16/mt for October. Offers for 40-foot
containers to Southeast Asia are down $3/mt this week amid the pullback in
ocean freight and domestic values.
"U.S. rail rates are lower this week as logistics issues continue to hamper
than market. Offers for rail delivered DDGS into California or Texas are down
$2 to $3/mt this week while offers into the PNW fell $15/mt."
USDA reported Thursday that U.S. exports of DDGS totaled 1,011,133 mt in
June, up from 966,108 mt in May and up 8% from a year ago. Vietnam was the top
destination in June, taking 20% of U.S. exports and was followed by Mexico and
Turkey. In the first six months of 2022, U.S. exports of DDGS were up 5%.
NOTE: All prices listed below can change at any time and are subject to
confirmation from seller.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT CURRENT CHANGE
COMPANY STATE 8/4/2022 7/28/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $260 $260 $0
Wet $155 $155 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $260 $265 -$5
Wet $125 $130 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $215 $220 -$5
Indiana Dry $215 $215 $0
Iowa Dry $220 $225 -$5
Michigan Dry $200 $205 -$5
Minnesota Dry $200 $200 $0
New York Dry $205 $200 $5
South Dakota Dry $215 $215 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $240 $235 $5
Wet $70 $70 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $245 $245 $0
Iowa Dry $245 $245 $0
Michigan Dry $235 $235 $0
Minnesota Dry $245 $245 $0
Missouri Dry $275 $275 $0
Ohio Dry $245 $245 $0
South Dakota Dry $245 $245 $0
Nebraska Dry $245 $245 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $245 $240 $5
Wet $90 $90 $0
Illinois Dry $215 $220 -$5
Nebraska Dry $240 $230 $10
Wet $90 $90 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $220 $227 -$7
Indiana Dry $210 $230 -$20
Iowa Dry $215 $210 $5
Michigan Dry $210 $235 -$25
Minnesota Dry $210 $210 $0
Nebraska Dry $235 $235 $0
New York Dry $245 $245 $0
North Dakota Dry $210 $220 -$10
Ohio Dry $215 $230 -$15
South Dakota Dry $215 $225 -$10
Wisconsin Dry $210 $225 -$15
Western Kansas Dry $245 $245 $0
Wet $105 $105 $0
Western Milling, Goshen, California (559-302-1074)
California Dry
**Weekly Average: $229 $232 -$3
(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 8/4/2022 $6.0225 $215.09
Soybean Meal 8/4/2022 $513.70
DDG Weekly Average Spot Price $229.00
DDG Value Relative to: 8/4 7/28
Corn 1.07% 1.06%
Soybean Meal 44.58% 47.37%
Cost Per Unit of Protein:
DDG $8.48 $8.59
Soybean Meal $10.81 $10.31
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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