Prices of dried distillers grains continued their upward momentum last week amidst similar movement on the corn board.
The DTN weekly DDG spot price average rose $4 per ton last week from the week prior, from $256 per ton to $260. This marks the third week in a row that the average has risen, from $251 per ton in mid-November to last week's $260 ton average.
Of the 30 Midwestern locations DTN collects prices from, 16 locations reported that their spot prices had increased last week from the prior week. Prices at 13 locations remained the same, and no price decreases were reported last week. Only one location had no offers last week.
Merchandisers told DTN last week that the firmer prices were largely because of price increases on the corn board and slightly higher export demand.
The value of DDG relative to corn last week was at about 96.65%, while DDG's value relative to soybean meal was 57.37%.
The cost per unit of protein for DDG last week was at $10.40, compared to the cost per unit of protein for soybean meal at $9.54.
Cheryl Anderson can be reached at firstname.lastname@example.org.
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