Market Matters Blog

DTN Weekly DDG Prices Mixed, But Lower on Average

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly average spot price for domestic distillers dried grains is down $2 from one week ago.

MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Aug. 10 was $197 per ton, down $2 on average from one week ago. DDG prices were mixed, but lower on average as demand appears to have slowed for now, especially in the deferred market. There is also some caution ahead of the Aug. 11 USDA WASDE and Crop Production reports as to what changes may be made to their corn yield estimate and how the futures market will react.

The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 4, overall ethanol production in the United States averaged 1.023 million barrels per day (bpd), down 44,000 bpd week-on-week and 1,000 bpd, or 0.1% higher, than in the same week last year, according to Energy Information Administration data. Four-week average output at 1.064 million bpd was 34,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 965,000 bpd, down 40,000 bpd, week-on-week, unchanged from the same week last year. Four-week average output at 999,000 bpd was 28,000 bpd above the same four weeks in 2022.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Aug. 10 was 1.14%. The value of DDG relative to soybean meal was 45.86 and the cost per unit of protein for DDG was $7.30 compared to the cost per unit of protein for soybean meal at $9.04.

USDA, using Tuesday's Census Bureau data, reported that U.S. exports of DDGS totaled 949,904 metric tons (mt) in June, down from 958,385 mt in May. Mexico was the top destination in June, taking 20% of U.S. exports, and was followed by Vietnam and Indonesia. In the first half of 2023, exports of DDGS were down 10% from a year ago.

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

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 8/10/2023 8/3/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $225 $225 $0
Wet $120 $120 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $225 $225 $0
Wet $110 $110 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $195 $195 $0
Indiana Dry $190 $190 $0
Iowa Dry $195 $195 $0
Michigan Dry $190 $190 $0
Minnesota Dry $190 $190 $0
New York Dry $205 $205 $0
South Dakota Dry $190 $200 -$10
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $200 $200 $0
Wet $67 $67 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $230 $230 $0
Iowa Dry $210 $220 -$10
Michigan Dry $240 $240 $0
Minnesota Dry $210 $215 -$5
Missouri Dry $240 $245 -$5
Ohio Dry $225 $225 $0
South Dakota Dry $215 $225 -$10
Nebraska Dry $210 $220 -$10
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $205 $205 $0
Wet $80 $80 $0
Ill SOLD OUT AUGUST Dry $0 $0 $0
Nebraska Dry $205 $205 $0
Wet $80 $80 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $195 $195 $0
Indiana Dry $190 $190 $0
Iowa Dry $185 $185 $0
Michigan Dry $200 $200 $0
Minnesota Dry $190 $190 $0
Nebraska Dry $185 $185 $0
New York Dry $240 $240 $0
North Dakota Dry $185 $185 $0
Ohio Dry $195 $195 $0
South Dakota Dry $185 $195 -$10
Wisconsin Dry $195 $195 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $180 $185 -$5
Western Kansas Dry $237 $232 $5
Wet $85 $83 $2
**Weekly Average: $197 $199 -$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 8/10/2023 $4.8325 $172.5893
Soybean Meal 8/10/2023 $429.60
DDG Weekly Average Spot Price 8/10/2023 $197.00
DDG Value Relative to: 8/10 8/3
Corn 1.14% 1.16%
Soybean Meal 45.86% 44.10%
Cost Per Unit of Protein:
DDG $7.30 $7.37
Soybean Meal $9.04 $9.50
Notes:
Corn and soybean prices taken 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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