Market Matters Blog
DTN Weekly DDG Average Price Lower
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended June 9 was $245 per ton, down $5 on average versus one week ago. Prices continued lower due to lack of steady demand from feeders right now.
The Energy Information Administration report on Wednesday showed production at ethanol plants in the United States dropped 32,000 barrels per day (bpd), to 1.039 million bpd, through June 3, down 2.6% from the same week in 2021. Plant output averaged 1.029 million bpd during the four weeks ended June 3 -- 5,000 bpd lower than during the comparable four weeks a year ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 9 was 88.75%. The value of DDG relative to soybean meal was 57.31%, and the cost per unit of protein for DDG was $9.07, compared to the cost per unit of protein for soybean meal at $9.00.
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In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, Barge rates are steady/lower this week following last week's rally. DDGS Barge CIF NOLA are down $1 metric ton (mt) for June-August shipment while FOB Gulf offers are up $4-5/mt for June through August. Offers for 40-foot containers to Southeast Asia are down $2-3/mt depending on the destination as ocean freight rates posted another week of slightly lower values. The average offer for containerized DDGS to Southeast Asia hit $399/mt this week."
The U.S. Census Bureau said Tuesday U.S. exports of DDGS totaled 813,749 mt in April, down from 927,134 mt in March and down 6% from a year ago. Mexico was the top destination in April, taking 15% of U.S. exports and was followed by Vietnam and South Korea. In the first four months of 2022, U.S. exports of DDGS were up 7%.
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 | 6/9/2022 | 6/2/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $260 | $260 | $0 | |
| Wet | $150 | $150 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $245 | $245 | $0 | ||
| Wet | $125 | $125 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $245 | $245 | $0 | |
| Indiana | Dry | $240 | $240 | $0 | |
| Iowa | Dry | $235 | $240 | -$5 | |
| Michigan | Dry | $235 | $235 | $0 | |
| Minnesota | Dry | $235 | $235 | $0 | |
| New York | Dry | $240 | $240 | $0 | |
| South Dakota | Dry | $260 | $265 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $245 | $240 | $5 | ||
| Wet | $77 | $78 | -$1 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $257 | $255 | $2 | |
| Iowa | Dry | $240 | $260 | -$20 | |
| Michigan | Dry | $255 | $255 | $0 | |
| Minnesota | Dry | $250 | $255 | -$5 | |
| Missouri | Dry | $270 | $270 | $0 | |
| Ohio | Dry | $260 | $255 | $5 | |
| South Dakota | Dry | $240 | $260 | -$20 | |
| Nebraska | Dry | $240 | $245 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $260 | $270 | -$10 | |
| Wet | $90 | $100 | -$10 | ||
| Illinois | Dry | $250 | $250 | $0 | |
| Nebraska | Dry | $260 | $270 | -$10 | |
| Wet | $90 | $100 | -$10 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $240 | $245 | -$5 | |
| Indiana | Dry | $245 | $255 | -$10 | |
| Iowa | Dry | $220 | $230 | -$10 | |
| Michigan | Dry | $245 | $252 | -$7 | |
| Minnesota | Dry | $225 | $240 | -$15 | |
| Nebraska | Dry | $230 | $235 | -$5 | |
| New York | Dry | $250 | $260 | -$10 | |
| North Dakota | Dry | $250 | $255 | -$5 | |
| Ohio | Dry | $240 | $250 | -$10 | |
| South Dakota | Dry | $235 | $255 | -$20 | |
| Wisconsin | Dry | $235 | $245 | -$10 | |
| Western Kansas | Dry | $280 | $300 | -$20 | |
| Wet | $125 | $125 | -$15 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $365 | $370 | -$5 | |
| **Weekly Average: | $245 | $250 | -$5 | ||
| (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 | 6/9/2022 | $7.7300 | $276.07 |
| Soybean Meal | 6/9/2022 | $427.50 | |
| DDG Weekly Average Spot Price | $245.00 | ||
| DDG Value Relative to: | 6/9 | 6/2 | |
| Corn | 88.75% | 95.86% | |
| Soybean Meal | 57.31% | 60.25% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.07 | $9.26 | |
| Soybean Meal | $9.00 | $8.73 | |
| 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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