Market Matters Blog

DTN Weekly DDG Prices Mixed, But Slightly Lower on Average

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 Aug. 17 was down $1 on average 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. 17 was $196 per ton, down $1 on average from one week ago. DDG prices were mixed, but slightly lower on average as demand is mostly for spot and given another hike in plant production, there are plenty of DDG supplies right now. The cash corn price has been seesawing all week and as of Thursday, the DTN National Corn Index was down 13 cents from one week ago.

The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 11, overall ethanol production in the United States averaged 1.069 million bpd, up 46,000 bpd week-on-week and 86,000 bpd, or 8% higher than in the same week last year, the last Energy Information Administration data show. Four-week average output at 1.063 million bpd was 46,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.012 million bpd, up 47,000 bpd week-on-week and 86,000 bpd, or 8.5% higher than in the same week last year. Four-week average output at 1 million bpd was 41,000 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. 17 was 1.16%. The value of DDG relative to soybean meal was 49.05 and the cost per unit of protein for DDG was $7.26 compared to the cost per unit of protein for soybean meal at $8.41.

In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA DDGS offers are steady/higher this week with declining draft levels in the Mississippi River helping support freight rates. Spot offers are up $1/MT while October and November are up $4-6/MT week. FOB NOLA offers largely unchanged from last week, but September values are down $2 at $266/MT. U.S. rail rates are $5/MT lower for the week while offers for 40-foot containers to Southeast Asia are up $1-2/MT for September shipment and up $2/MT for Q4 as ocean freight rates firm for a second straight week."

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 8/17/2023 8/10/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $210 $225 -$15
Wet $120 $120 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $215 $225 -$10
Wet $105 $110 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $195 $195 $0
Indiana Dry $188 $190 -$2
Iowa Dry

$190

$195

-$5

Michigan Dry

$190

$190

$0

Minnesota Dry

$185

$190

-$5

New York Dry

$200

$205

-$5

South Dakota Dry

$190

$190

$0

MGP Ingredients, Atchison, KS (800-255-0302)
Dry

$190

$200

-$10

Wet

$58

$67

-$9

POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry

$230

$230

$0

Iowa Dry

$210

$210

$0

Michigan Dry

$240

$240

$0

Minnesota Dry

$210

$210

$0

Missouri Dry

$240

$240

$0

Ohio Dry

$225

$225

$0

South Dakota Dry

$215

$215

$0

Nebraska Dry

$210

$210

$0

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

$185

$0

Wisconsin Dry

$195

$195

$0

Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry

$180

$180

$0

Western Kansas Dry

$237

$237

$0

Wet

$85

$85

$0

**Weekly Average: $196 $197 -$1
(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 8/17/2023 $4.7300 $168.9286
Soybean Meal 8/17/2023 $399.60
DDG Weekly Average Spot Price 8/17/2023 $196.00
DDG Value Relative to: 8/17 8/10
Corn 1.16% 1.14%
Soybean Meal 49.05% 45.86%
Cost Per Unit of Protein:
DDG $7.26 $7.30
Soybean Meal $8.41 $9.04
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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