Market Matters Blog
DTN Weekly DDG Prices Steady on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Aug. 31 was $195 per ton, unchanged on average from one week ago. DDG prices were mixed, but steady on average as corn and meal futures have been mixed this week as well, ahead of the fall harvest which will get an early start thanks to the hot, dry weather. The DTN National Corn Index is down 21 cents from one week ago.
The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 25, overall ethanol production in the United States averaged 1.007 million barrels per day (bpd), down 41,000 bpd week-on-week and 37,000 bpd, or 3.7%, higher than in the same week last year. Four-week average output at 1.037 million bpd was 46,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 952,000 bpd, down 40,000 bpd week-on-week and 41,000 bpd, or 4.3%, higher than in the same week last year. Four-week average output at 980,000 bpd was 47,000 bpd above the same four weeks in 2022.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Aug. 31 was 1.18%. The value of DDG relative to soybean meal was 46.57 and the cost per unit of protein for DDG was $7.22 compared to the cost per unit of protein for soybean meal at $8.81.
In their weekly DDGS price update, U.S. Grains Council said, "Rates for DDGS delivered by rail to key U.S. locations are up $3 to $4 metric ton (mt) this week as the ethanol co-product competes for space amid the new-crop grain and oilseed harvest. Barge CIF NOLA DDGS offers higher this week with spot and Q4 rates up $4 to $5 as freight rates continue to rally on falling Mississippi River draft levels. FOB Gulf offers are commensurately higher with October offers up $6 at $272 mt and the forward curve remaining historically flat. Offers for 40-foot containers to Southeast Asia are down $11 mt at $300 for spot positions this week due to weaker ocean freight values."
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 | 8/31/2023 | 8/24/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $205 | $210 | -$5 | |
| Wet | $110 | $115 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $215 | $215 | $0 | ||
| Wet | $105 | $105 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $200 | $200 | $0 | |
| Indiana | Dry | $190 | $188 | $2 | |
| Iowa | Dry | $195 | $195 | $0 | |
| Michigan | Dry | $200 | $195 | $5 | |
| Minnesota | Dry | $190 | $185 | $5 | |
| New York | Dry | $225 | $220 | $5 | |
| South Dakota | Dry | $190 | $190 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $195 | $185 | $10 | ||
| Wet | $60 | $55 | $5 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $220 | $220 | $0 | |
| Iowa | Dry | $205 | $210 | -$5 | |
| Michigan | Dry | $230 | $230 | $0 | |
| Minnesota | Dry | $205 | $205 | $0 | |
| Missouri | Dry | $235 | $240 | -$5 | |
| Ohio | Dry | $215 | $215 | $0 | |
| South Dakota | Dry | $210 | $210 | $0 | |
| Nebraska | Dry | $205 | $210 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $200 | $205 | -$5 | |
| Wet | $80 | $80 | $0 | ||
| Ill SOLD OUT SEP | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $200 | $205 | -$5 | |
| 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 | $190 | -$5 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $190 | $185 | $5 | |
| Nebraska | Dry | $195 | $190 | $5 | |
| New York | Dry | $235 | $235 | $0 | |
| North Dakota | Dry | $195 | $190 | $5 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $185 | $185 | $0 | |
| Wisconsin | Dry | $190 | $190 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $185 | $180 | $5 | ||
| Western Kansas | Dry | $237 | $237 | $0 | |
| Wet | $85 | $85 | $0 | ||
| **Weekly Average: | $195 | $195 | $0 | ||
| (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 | 8/31/2023 | $4.6100 | $164.6429 | ||
| Soybean Meal | 8/31/2023 | $418.70 | |||
| DDG Weekly Average Spot Price | 8/31/2023 | $195.00 | |||
| DDG Value Relative to: | 8/31 | 8/24 | |||
| Corn | 1.18% | 1.16% | |||
| Soybean Meal | 46.57% | 46.13% | |||
| Cost Per Unit of Protein: | |||||
| DDG | $7.22 | $7.22 | |||
| Soybean Meal | $8.81 | $8.90 | |||
| 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 X, formerly known as Twitter, @MaryCKenn
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