Market Matters Blog

DTN Weekly Average DDG Price Higher Again

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains for the week ended April 21 was $2 higher on average versus one week ago. (DTN file photo)

OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended April 21 was $300 per ton, up $2 on average versus one week ago. The higher cash corn prices and the strength in soybean meal and soy oil prices are giving a boost to DDG prices. The lower plant production reported again by EIA is causing tighter supplies, and poor rail logistics are adding to the price strength.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 21 was 105.10%. The value of DDG relative to soybean meal was 63.98%, and the cost per unit of protein for DDG was $11.11, compared to the cost per unit of protein for soybean meal at $9.87.

The Energy Information Administration reported Wednesday that overall production from domestic ethanol plants declined for a fourth straight week, sliding 48,000 barrels per day (bpd) or 4.8% to a 947,000-bpd more-than-six-month low. Plant output averaged 995,000 bpd during the four weeks ended April 15, 39,000 or 4.1% above the production rate during the comparable four weeks in 2021.

In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA and FOB Gulf DDGS values are lower this week with barge rates falling $16-$20 per metric ton (mt) while FOB Gulf offers are down $10/mt. Spot FOB Gulf offers are averaging $379/mt this week. Prices for containerized DDGS into southeast Asia are steady for the second time in as many weeks. Changes in ocean freight rates have been muted this week, which has kept some stability in containerize export markets. Offers for 40-foot containers to Southeast Asia are up $1/mt this week at $459 for May/June shipment."

NOTE: All prices listed below can change at any time and are subject to confirmation from seller.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 4/21/2022 4/14/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $305 $315 -$10
Wet $165 $175 -$10
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $305 $305 $0
Wet $170 $170 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $295 $285 $10
Indiana Dry $295 $290 $5
Iowa Dry $295 $285 $10
Michigan Dry $280 $270 $10
Minnesota Dry $285 $280 $5
New York Dry $285 $305 -$20
South Dakota Dry $305 $300 $5
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $310 $300 $10
Wet $95 $95 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $305 $305 $0
Iowa Dry $300 $300 $0
Michigan Dry $285 $285 $0
Minnesota Dry $295 $295 $0
Missouri Dry $325 $325 $0
Ohio Dry $300 $300 $0
South Dakota Dry $325 $325 $0
Nebraska Dry $315 $325 -$10
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $330 $320 $10
Wet $110 $110 $0
Illinois Dry $295 $290 $5
Nebraska Dry $330 $320 $10
Wet $110 $110 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $290 $290 $0
Indiana Dry $300 $300 $0
Iowa Dry $280 $280 $0
Michigan Dry $285 $285 $0
Minnesota Dry $280 $280 $0
Nebraska Dry $312 $312 $0
New York Dry $319 $319 $0
North Dakota Dry $305 $305 $0
Ohio Dry $290 $290 $0
South Dakota Dry $300 $300 $0
Wisconsin Dry $275 $275 $0
Western Kansas Dry $365 $350 $15
Wet $125 $125 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $435 $410 $25
**Weekly Average: $300 $298 $2
(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 4/21/2022 $7.9925 $285.45
Soybean Meal 4/21/2022 $468.90
DDG Weekly Average Spot Price $300.00
DDG Value Relative to: 4/21 4/14
Corn 105.10% 105.59%
Soybean Meal 63.98% 64.59%
Cost Per Unit of Protein:
DDG $11.11 $11.04
Soybean Meal $9.87 $9.71
Notes:
Corn and soybean prices take 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 Twitter @MaryCKenn

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