Market Matters Blog

DTN Weekly Average DDG Price Higher

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 Oct. 3 is higher on average versus one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Oct. 3 was $1 higher on average at $145 per ton versus one week ago. DDG prices overall were mixed but higher for the week on average. The strength in the cash corn price was supportive even as soybean meal prices were pulled lower. The DTN National Average Corn Index was up 14 cents versus one week ago.

The U.S. Energy Information Administration reported overall ethanol production in the United States averaged 1.015 million bpd in the week ended Sept. 27, up 21,000 bpd week-on-week and 6,000 bpd, or 0.6% higher than in the same week last year. Four-week average output at 1.034 million bpd was 25,000 bpd above the same four weeks last year. Midwest ethanol production averaged 961,000 bpd, up 29,000 bpd week-on-week and 3,000 bpd, or 0.3% higher than in the same week last year. Four-week average output at 975,000 bpd was 21,000 bpd above the same four weeks last year.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 03 was 0.95%. The value of DDG relative to soybean meal was 43.57% and the cost per unit of protein for DDG was $5.37 compared to the cost per unit of protein for soybean meal at $7.01.

U.S. Grains Council in its weekly DDGS export market prices report showed as of Oct. 2, October CIF NOLA barge price was at $178 metric ton (mt), up $12 versus one week ago, and FOB vessel Gulf price was up 10 cents at $195; rail delivered PNW was up $1 at $210 and rail delivered to California was up $1 at $212 mt. The RFA earlier this week as the dockworkers strike began noted that "40% of US DDGS exports depart from a Gulf or East Coast port." The strike was suspended Thursday evening, Oct. 3. https://www.dtnpf.com/…

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 10/3/2024 9/26/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $165 $160 $5
Wet $80 $80 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $165 $165 $0
Wet $70 $70 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $150 $145 $5
Indiana Dry $125 $125 $0
Iowa Dry $135 $132 $3
Michigan Dry $130 $130 $0
Minnesota Dry $135 $130 $5
New York Dry $135 $135 $0
South Dakota Dry $145 $140 $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $150 $150 $0
Iowa Dry $150 $150 $0
Michigan Dry $150 $150 $0
Minnesota Dry $145 $145 $0
Missouri Dry $160 $160 $0
Ohio Dry $150 $150 $0
South Dakota Dry $150 $150 $0
Nebraska Dry $160 $160 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $165 $160 $5
Wet $70 $65 $5
Illinois Dry $152 $154 -$2
Nebraska Dry $165 $160 $5
Wet $70 $65 $5
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $135 $135 $0
Indiana Dry $130 $130 $0
Iowa Dry $120 $120 $0
Michigan Dry $135 $135 $0
Minnesota Dry $120 $120 $0
Nebraska Dry $145 $145 $0
New York Dry $160 $160 $0
North Dakota Dry $135 $135 $0
Ohio Dry $145 $145 $0
South Dakota Dry $125 $125 $0
Wisconsin Dry $130 $130 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
FOB Pickett Dry $145 $140 $5
Western Kansas
Kansas SUBJECT Dry $185 $185 $0
Wet $72 $72 $0
Western Milling
California Dry $235 $225 $10
**Weekly Average: $145 $144 $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 10/3/2024 $4.2825 $152.9464
Soybean Meal 10/3/2024 $332.80
DDG Weekly Average Spot Price 10/3/2024 $145.00
DDG Value Relative to: 10/3 9/26
Corn 0.95% 1.13%
Soybean Meal 43.57% 48.84%
Cost Per Unit of Protein:
DDG $5.37 $7.19
Soybean Meal $7.01 $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 the social platform X @MaryCKenn

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