Lower numbers on the corn board and basis forced prices of dried distillers grains down in the past week as well, merchandisers told DTN this week.
The DTN weekly spot price average fell from $235 last week to $230 this week, marking the first motion down in prices in nearly a month, since the first week of July. Still, prices have remained somewhat steady in recent months, hovering between $230 and $236 since late May.
Of the 29 Midwestern locations DTN collects prices from, an overwhelming 26 said their prices had decreased between $3 and $10 per ton since last week. Prices remained unchanged since last week at only two locations, while no one reported price increases. One location did not report prices last week, so no change was available.
The value of DDG relative to corn this week was at 129.84% -- a misleading number, however. That figure does not have basis added to the price of corn. The value of DDG relative to soybean meal was at 51.36%.
The cost per unit of protein for DDG was $9.20 this week, compared to the cost per unit of protein for soybean meal at $9.43.
Cheryl Anderson can be reached at Cheryl.email@example.com.
© Copyright 2013 DTN/The Progressive Farmer. All rights reserved.