Market Matters Blog
DTN Weekly DDG Price Slightly Lower on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Jan. 11 was mixed but generally 1 cent weaker on average at $194 per ton versus one week ago. DDG prices were slightly lower on average as corn and soybean meal markets decreased compared to one week ago. Soybean meal was down $7.20 versus one week ago and the DTN National Corn Index was down 8 cents versus one week ago.
The Energy Information Administration reported overall ethanol production in the United States averaged 1.062 million barrels per day (bpd) as of Jan. 5, Energy Information Administration data show, up 13,000 bpd week-on-week and 119,000 bpd, or 11.2%, higher than in the same week last year. Four-week average output at 1.072 million bpd was 127,000 bpd above the same four weeks in 2023. Midwest ethanol production averaged 1.006 million bpd, up 11,000 bpd week-on-week and 111,000 bpd, or 11%, higher than in the same week last year. Four-week average output at 1.014 million bpd was 121,000 bpd above the same four weeks in 2023.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Jan. 11 was 1.19%. The value of DDG relative to soybean meal was 53.68 and the cost per unit of protein for DDG was $7.19 compared to the cost per unit of protein for soybean meal at $7.61.
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In their weekly DDGS report, U.S. Grains Council said, "Notable price movement occurred in the Barge CIF New Orleans and FOB vessel Gulf prices. Both are down $15 metric ton (mt) from last week for January, February, and March. This likely occurred to offset barge freight rates, which were up 9% on the week."
USDA used Census Bureau data released Tuesday to provide more details for U.S. exports of DDGS. USDA noted that exports totaled 829,911 mt in November, down from 896,708 mt in October, but up 14% from a year ago. Mexico was the top destination in November, taking 21% of U.S. exports and was followed by South Korea and Vietnam. With one month of data remaining in 2023, exports of DDGS were down 3% from a year ago.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||
| COMPANY | STATE | 1/11/2024 | 1/4/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $225 | $215 | $10 | |
| Wet | $120 | $115 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $220 | $220 | $0 | ||
| Wet | $120 | $120 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $205 | $205 | $0 | |
| Indiana | Dry | $180 | $180 | $0 | |
| Iowa | Dry | $185 | $200 | -$15 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $190 | $200 | -$10 | |
| New York | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $195 | $200 | -$5 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $210 | $210 | $0 | |
| Michigan | Dry | $220 | $220 | $0 | |
| Minnesota | Dry | $205 | $205 | $0 | |
| Missouri | Dry | $225 | $225 | $0 | |
| Ohio | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $210 | $215 | -$5 | |
| Nebraska | Dry | $225 | $225 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $230 | $235 | -$5 | |
| Call | Wet | $80 | $80 | $0 | |
| Illinois NO JAN | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $230 | $235 | -$5 | |
| Call | Wet | $80 | $80 | $0 | |
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $195 | $195 | $0 | |
| Iowa | Dry | $185 | $195 | -$10 | |
| Michigan | Dry | $190 | $195 | -$5 | |
| Minnesota | Dry | $195 | $195 | $0 | |
| Nebraska | Dry | $205 | $210 | -$5 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $210 | $215 | -$5 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $200 | $210 | -$10 | |
| Wisconsin | Dry | $185 | $190 | -$5 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $195 | $195 | $0 | ||
| Western Kansas | |||||
| Kansas | Dry | $235 | $245 | -$10 | |
| Wet | $80 | $80 | $0 | ||
| Western Milling | |||||
| California | Dry | $275 | $275 | $0 | |
| **Weekly Average: | $194 | $195 | -$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 | 1/11/2024 | $4.5775 | $163.4822 |
| Soybean Meal | 1/11/2024 | $361.40 | |
| DDG Weekly Average Spot Price | 1/11/2024 | $194.00 | |
| DDG Value Relative to: | 1/11 | 1/4 | |
| Corn | 1.19% | 1.13% | |
| Soybean Meal | 53.68% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.19 | $7.19 | |
| Soybean Meal | $7.61 | $8.36 | |
| 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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