DDG Prices Edge Up on Lower Corn, Soybean Meal Values
The weekly average spot price for domestic distillers dried grains (DDG) was slightly higher at $195 per short ton, up from $194 a week ago. This is according to DTN's latest data, which collects prices from 33 locations reporting.
Prices for DDG came off recent highs due to lower corn and soybean meal prices since last week. The cash corn price was down 26 cents per bushel, while the soybean meal price dropped by $19.10 per short ton versus one week ago, adding pressure to DDG prices.
The value of DDG relative to corn stood at 1.087%, up from 1.030% a week ago. The value of DDG relative to soybean meal was 55.19%, an increase from 52.09%. The cost per unit of protein for DDG was $7.22 compared to the cost per unit of protein for soybean meal at $7.44.
Export market prices also saw changes, with CIF NOLA barge price down $10 at $280 metric ton (mt) versus one week ago, and FOB vessel Gulf price down $6 at $304 mt. However, rail delivered to California was up $4 at $310 mt.