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DDG Weekly Update
Mary Kennedy 6/22 11:08 AM

OMAHA (DTN) -- The average distillers dried grains (DDG) spot price from the 40 locations DTN contacted was sharply lower again this week at an average of $133 per ton for the week-ended June 21, down $16 versus one week ago.

Merchandisers noted that prices remain competitive with soymeal values this week, with some plants lowering offers to move more product. Besides a seasonal slowdown in demand, it hasn't helped matters that soybeans and corn have also been on a downward slide. Favorable growing weather, along with the escalation of the trade wars between the U.S and China and other countries, continues to pressure the markets.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week-ended June 21 was at 104.31%, and the value of DDG relative to soybean meal was at 40.08%. The cost per unit of protein for DDG was $4.93, compared to the cost per unit of protein for soybean meal at $6.99.

In its weekly price update, the U.S. Grains Council (USGC) reported: "On the export market, Barge CIF NOLA and FOB Gulf DDGS values are lower in sympathy with falling corn and soymeal values. Values for containerized product to Southeast Asia are lower as well. Still, FOB Gulf DDGS prices are at 136% of FOB Gulf corn values, with the above-average figure signaling solid demand for DDGS. Moving forward, merchandisers believe there should be a correction period that entails price increases."

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 6/21/2018 6/14/2018
Bartlett and Company, Kansas City, MO (816-753-6300)
Missouri Dry $150 $155 -$5
Modified $75 $80 -$5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Missouri Dry $160 $160 $0
Wet $70 $70 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $150 $162 -$12
Indiana Dry $145 $158 -$13
Iowa Dry $130 $145 -$15
Michigan Dry $150 $163 -$13
Minnesota Dry $125 $140 -$15
North Dakota Dry $130 $140 -$10
New York Dry $155 $170 -$15
South Dakota Dry $130 $145 -$15
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
Kansas Dry $130 $150 -$20
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $150 $155 -$5
Iowa Dry $130 $150 -$20
Michigan Dry $160 $170 -$10
Minnesota Dry $130 $145 -$15
Missouri Dry $150 $165 -$15
Ohio Dry $150 $160 -$10
South Dakota Dry $130 $145 -$15
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $140 $150 -$10
Wet $40 $40 $0
Illinois Dry $150 $160 -$10
Nebraska Dry $140 $150 -$10
Wet $40 $40 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $135 $155 -$20
Indiana Dry $135 $150 -$15
Iowa Dry $125 $140 -$15
Michigan Dry $135 $150 -$15
Minnesota Dry $125 $140 -$15
Nebraska Dry $110 $125 -$15
New York Dry $135 $150 -$15
North Dakota Dry $115 $140 -$25
Ohio Dry $140 $155 -$15
South Dakota Dry $115 $140 -$25
Wisconsin Dry $135 $145 -$10
Valero Energy Corp, San Antonio Texas (210-345-3362) (210-345-3362)
Indiana Dry $130 $150 -$20
Iowa Dry $112 $135 -$23
Minnesota Dry $110 $140 -$30
Nebraska Dry $100 $125 -$25
Ohio Dry $140 $155 -$15
South Dakota Dry $110 $145 -$35
California $181 $195 -$14
Western Milling, Goshen, California (559-302-1074)
California Dry $215 $220 -$5
*Prices listed per ton.
Weekly Average $133 $149 -$16
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 6/21/2018 $3.5700 $127.50
Soybean Meal 6/21/2018 $331.80
DDG Weekly Average Spot Price $133.00
DDG Value Relative to: 6/21 6/14
Corn 104.31% 114.93%
Soybean Meal 40.08% 43.41%
Cost Per Unit of Protein:
DDG $4.93 $5.52
Soybean Meal $6.99 $7.23
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

(AG)

 
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