Wheat Middlings Rises 11% on the Week, Prices at 93% of Corn

Kansas wheat middlings rose 11% on the week to $152/ton FOB plant, the largest week-over-week advance among the USDA AMS feedstuffs series in this issue. The move puts middlings 47% above their 5-year median and still leaves the ingredient as the second cheapest energy source at $0.092 per pound of TDN, or 93% of corn's cost, on a dry-matter basis.

• California yellow grease FOB plant: $67/ton at Central Coast and South locations, up 4% week over week from the prior USDA AMS report and 47% to 99% above the 5-year median depending on region. Yellow grease is priced but not scored on the substitution leaderboard.
• Sunflower meal holds the protein lead at $0.240/lb crude protein, 70% of soybean meal's cost per pound (FOB), dry-matter basis per USDA AMS. Feather meal is second at $0.262/lb crude protein (77% of soybean meal).
• Hominy feed retains the energy lead at $0.076/lb TDN, 76% of corn's cost, dry-matter basis.
• WDGS in Kansas holds at $48/ton (unspecified basis) and sits 40% below its 5-year median, the widest negative gap in this week's digest.
• DDGS ranks third on the protein leaderboard at $0.310/lb crude protein, 91% of soybean meal's cost, dry-matter basis per USDA AMS, and prices energy at 104% of corn's cost, above the energy benchmark.

Corn held flat week over week at $4.31/bu (about $154/ton as-fed, plant input cost), sitting 6.6% below its 5-year median per USDA. Soybean meal is approximately $325/ton FOB, near flat on the week and about 1% above its 5-year median. No benchmark repricing this week.

37 series, including alfalfa pellets, almond hulls and barley, have not updated in over two weeks. Treat any figure from those series as stale.