Market Matters Blog

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Oct. 24 was up $2 on average at $148 per ton versus one week ago. DDG prices overall were mixed but higher for the week on average. Merchandisers noted that a pick-up in demand and strength in the cash corn market was supportive to DDG prices this week. The DTN National Average Corn Index was up 16 cents versus one week ago.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 24 was 0.98%. The value of DDG relative to soybean meal was 47.68% and the cost per unit of protein for DDG was $5.48 compared to the cost per unit of protein for soybean meal at $6.53.

U.S. Grains Council in its weekly DDGS export market prices report showed as of Oct. 23, CIF NOLA barge price was up $2 at $181 metric ton (mt), FOB vessel Gulf price was steady at $186; rail delivered PNW was steady at $211, and rail delivered to California was steady at $211 mt.

The U.S. Energy Information Administration reported overall ethanol production in the United States averaged 1.081 million barrels per day (bpd) in the week ended Oct. 18, up 39,000 bpd week-on-week and 41,000 bpd, or 3.8%, higher than in the same week last year. Four-week average output at 1.044 million bpd was 22,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.014 million bpd, up 29,000 bpd week-on-week and 27,000 bpd, or 2.7%, higher than in the same week last year. Four-week average output at 985,000 bpd was 15,000 bpd above the same four weeks last year.

Note: All prices subject to change/confirmation.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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