Market Matters Blog
DTN Weekly DDG Price Higher on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended Sept. 8 was $245 per ton, up $3 versus one week ago. DDG prices were higher in some plants where supplies are tight. Corn prices haven't moved much, with the DTN National Corn Index up 6 cents versus one week ago and soybean meal prices have been lower, but the weekly DDG price still managed to be higher on average.
The Energy Information Administration (EIA) said Wednesday domestic production of ethanol jumped 19,000 barrels per day (bpd) or 2% to a four-week high 989,000 bpd, 7.2% above the comparable period last year. Midwest ethanol production increased 20,000 bpd or 2.2% to 931,000 bpd through Sept. 2, a four-week high and 7% above a year ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sep. 5 was 1.02%. The value of DDG relative to soybean meal was 57.27%, and the cost per unit of protein for DDG was $9.07, compared to the cost per unit of protein for soybean meal at $9.01.
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In its weekly DDGS export update, the U.S. Grains Council said: "Tight logistics and increased export demand continue to push export DDGS offers higher. Barge CIF NOLA DDGS values are $2 metric ton (mt) higher for September positions this week while FOB NOLA offers are up $2 to $4/mt to $328 for spot positions. The DDGS container market is higher this week amid an uptick in ocean freight rates. Offers for 40-foot containers to Southeast Asia are up $4/mt on average this week at $408 for spot shipment."
USDA reported this past week that U.S. exports of DDGS totaled 1,059,300 mt in July, up from 1,011,133 mt in June, but down slightly from a year ago. Mexico was the top destination in July, taking 21% of U.S. exports, followed by Turkey and Vietnam. In the first seven months of 2022, U.S. exports of DDGS were up 4% from a year ago.
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 | 9/8/2022 | 9/1/2022 | ||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
Missouri | Dry | $265 | $265 | $0 | |
Wet | $155 | $155 | $0 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Dry | $270 | $270 | $0 | ||
Wet | $140 | $140 | $0 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $235 | $235 | $0 | |
Indiana | Dry | $225 | $225 | $0 | |
Iowa | Dry | $245 | $245 | $0 | |
Michigan | Dry | $210 | $205 | $5 | |
Minnesota | Dry | $235 | $225 | $10 | |
New York | Dry | $205 | $205 | $0 | |
South Dakota | Dry | $260 | $245 | $15 | |
MGP Ingredients, Atchison, KS (800-255-0302) | |||||
Dry | $280 | $275 | $5 | ||
Wet | $95 | $91 | $4 | ||
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $240 | $245 | -$5 | |
Iowa | Dry | $260 | $260 | $0 | |
Michigan | Dry | $215 | $215 | $0 | |
Minnesota | Dry | $255 | $255 | $0 | |
Missouri | Dry | $275 | $275 | $0 | |
Ohio | Dry | $245 | $245 | $0 | |
South Dakota | Dry | $260 | $260 | $0 | |
Nebraska | Dry | $300 | $285 | $15 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $270 | $265 | $5 | |
Call for Available | Wet* | $0 | $0 | $0 | |
Illinois | Dry | $235 | $235 | $0 | |
Nebraska | Dry | $270 | $265 | $5 | |
Call for Available | Wet* | $0 | $0 | $0 | |
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $220 | $220 | $0 | |
Indiana | Dry | $215 | $215 | $0 | |
Iowa | Dry | $230 | $235 | -$5 | |
Michigan | Dry | $215 | $215 | $0 | |
Minnesota | Dry | $220 | $215 | $5 | |
Nebraska | Dry | $285 | $275 | $10 | |
New York | Dry | $250 | $250 | $0 | |
North Dakota | Dry | $230 | $225 | $5 | |
Ohio | Dry | $225 | $225 | $0 | |
South Dakota | Dry | $235 | $230 | $5 | |
Wisconsin | Dry | $213 | $210 | $3 | |
Western Kansas | Dry | $290 | $290 | $0 | |
Wet | $105 | $105 | $0 | ||
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $338 | $345 | -$7 | |
**Weekly Average: | $245 | $242 | $3 | ||
(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 | 9/8/2022 | $6.7450 | $240.8929 |
Soybean Meal | 9/8/2022 | $427.80 | |
DDG Weekly Average Spot Price | $245.00 | ||
DDG Value Relative to: | 9/8/2022 | 9/1/2022 | |
Corn | 1.02% | 1.03% | |
Soybean Meal | 57.27% | 53.54% | |
Cost Per Unit of Protein: | |||
DDG | $9.07 | $8.96 | |
Soybean Meal | $9.01 | $9.52 | |
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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