| |
Market Matters Blog 05/03 12:06
DTN Weekly DDG Price Lower on Average Again
DTN's weekly average spot price for domestic distillers dried grains is down
$3 on average versus one week ago.
Mary Kennedy
DTN Basis Analyst
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains
(DDG) from 33 locations reporting for the week ended May 2 was down $3 on
average versus one week ago at $167 per ton. DDG prices were pushed lower again
as demand has been slow and in spite of a rise in cash corn prices since last
week. The DTN National Average Corn Index was up 11 cents versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol
production in the United States averaged 987,000 barrels per day (bpd) in the
week ended April 26, the Energy information Administration reports, up 33,000
bpd week-on-week and 11,000 bpd, or 1.1% higher than in the same week last
year. Four-week average output at 995,000 bpd was 13,000 bpd above the same
four weeks last year. Midwest ethanol production averaged 930,000 bpd, up
27,000 bpd week-on-week and 8,000 bpd, or 0.9% higher than in the same week
last year. Four-week average output at 941,000 bpd was 10,000 bpd above the
same four weeks last year.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended May 2 was 1.03%. The value of DDG relative to
soybean meal was 46.77 and the cost per unit of protein for DDG was $6.19
compared to the cost per unit of protein for soybean meal at $7.52.
USDA used Census Bureau data released Thursday to provide more details for
exports of DDGs. U.S. exports of DDGs totaled 1,055,692 metric tons (mt) in
March, up from 986,337 mt in February and up 18% from a year ago. Mexico was
the top destination in March, taking 16% of U.S. exports, and was followed by
South Korea and Turkey. In the first three months of 2024, DDGs exports were up
21% from a year ago.
*All prices are subject to confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 5/2/2024 4/25/
2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $170 $175 -$5
Wet $85 $87 -$2
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $170 $170 $0
Wet $75 $75 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $165 $165 $0
Indiana Dry $145 $150 -$5
Iowa Dry $150 $155 -$5
Michigan Dry $155 $160 -$5
Minnesota Dry $145 $150 -$5
New York Dry $185 $190 -$5
South Dakota Dry $150 $155 -$5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $180 $185 -$5
Iowa Dry $170 $170 $0
Michigan Dry $180 $185 -$5
Minnesota Dry $160 $160 $0
Missouri Dry $190 $195 -$5
Ohio Dry $180 $185 -$5
South Dakota Dry $175 $180 -$5
Nebraska Dry $180 $185 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $190 $190 $0
Wet $55 $55 $0
Illinois SOLD OUT Dry $0 $0 $0
Nebraska Dry $190 $190 $0
Wet $55 $55 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $169 $170 -$1
Indiana Dry $165 $170 -$5
Iowa Dry $145 $150 -$5
Michigan Dry $165 $170 -$5
Minnesota Dry $145 $145 $0
Nebraska Dry $160 $160 $0
New York Dry $225 $225 $0
North Dakota Dry $160 $160 $0
Ohio Dry $170 $175 -$5
South Dakota Dry $150 $155 -$5
Wisconsin Dry $165 $165 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $165 $165 $0
Western Kansas
Kansas Dry $210 $210 $0
Wet $74 $74 $0
Western Milling
California Dry $255 $260 -$5
**Weekly Average: $167 $170 -$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 5/2/2024 $4.5200 $161.4286
Soybean Meal 5/2/2024 $357.10
DDG Weekly Average Spot Price 5/2/2024 $167.00
DDG Value Relative to: 5/2 4/25
Corn 1.03% 1.13%
Soybean Meal 46.77% 48.84%
Cost Per Unit of Protein:
DDG $6.19 $7.19
Soybean Meal $7.52 $8.36
Notes:
Corn and soybean prices taken 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 social platform X @MaryCKenn
(c) Copyright 2024 DTN, LLC. All rights reserved.
For more free DTN information sent right to your email each morning - click here to sign up for DTN Snapshot.
|
|
