Market Matters Blog

DTN Weekly DDG Price 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 April 28 was $4 lower on average versus one week ago. (DTN file photo)

OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended April 28 was $296 per ton, down $4 on average versus one week ago. DDG prices were weaker as plant production picked up last week, thus adding more supply. Also adding pressure to DDG prices were lower soybean meal cash prices recently.

The Energy Information Administration reported Wednesday that domestic ethanol plant production was higher for the first time in five weeks, up 1.7% to 963,000 barrels per day (bpd). This was partially due to plants getting closer to the end of spring maintenance.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 28 was 101.57%. The value of DDG relative to soybean meal was 67.24%, and the cost per unit of protein for DDG was $10.96, compared to the cost per unit of protein for soybean meal at $9.27.

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In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, brokers and exporters report that trade has been quiet, and values are down from last week. Barge CIF NOLA offers are down $10 to $12 metric ton (mt) at $350/MT for May/June shipment while FOB Gulf offers are down $9-10/MT at $370 for spot shipment. This week's sideways/slightly higher trade in ocean freight rates has kept containerized DDGS offers steady. The average offer for 40-foot containers to Southeast Asia hit $459/MT, unchanged from the prior week."

NOTE: All prices listed below can change at any time and are subject to confirmation from seller.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 4/28/2022 4/21/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $300 $305 -$5
Wet $165 $165 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $298 $305 -$7
Wet $155 $170 -$15
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $280 $295 -$15
Indiana Dry $280 $295 -$15
Iowa Dry $285 $295 -$10
Michigan Dry $280 $280 $0
Minnesota Dry $280 $285 -$5
New York Dry $285 $285 $0
South Dakota Dry $305 $305 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $295 $310 -$15
Wet $105 $95 $10
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $305 $305 $0
Iowa Dry $300 $300 $0
Michigan Dry $285 $285 $0
Minnesota Dry $295 $295 $0
Missouri Dry $315 $315 $0
Ohio Dry $300 $300 $0
South Dakota Dry $320 $320 $0
Nebraska Dry $310 $310 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $330 $330 $0
Wet $110 $110 $0
Illinois Dry $295 $295 $0
Nebraska Dry $330 $330 $0
Wet $110 $110 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $290 $290 $0
Indiana Dry $300 $300 $0
Iowa Dry $275 $280 -$5
Michigan Dry $285 $285 $0
Minnesota Dry $280 $280 $0
Nebraska Dry $300 $312 -$12
New York Dry $315 $319 -$4
North Dakota Dry $305 $305 $0
Ohio Dry $290 $290 $0
South Dakota Dry $305 $300 $5
Wisconsin Dry $275 $275 $0
Western Kansas Dry $365 $365 $0
Wet $125 $125 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $405 $435 -$30
**Weekly Average: $296 $300 -$4
(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 4/28/2022 $8.1600 $291.43
Soybean Meal 4/28/2022 $440.20
DDG Weekly Average Spot Price $296.00
DDG Value Relative to: 4/28 4/21
Corn 101.57% 105.10%
Soybean Meal 67.24% 63.98%
Cost Per Unit of Protein:
DDG $10.96 $11.11
Soybean Meal $9.27 $9.87
Notes:
Corn and soybean prices take 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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