Market Matters Blog

DTN Weekly DDG Price Higher 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 13 was up $1 on average from one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended April 13 was $259 per ton, up $1 from one week ago. Prices were mixed but higher on average as plants are taking seasonal maintenance downtime, which is causing DDG to be in short supply where that is taking place.

The Energy Information Administration (EIA) at midweek showed total domestic ethanol production slid 44,000 barrels per day (bpd) to a 13-week low 959,000 bpd as of April 7, 3.6% below a year ago. The four-week average output at 991,000 bpd was 28,000 bpd lower than the same four weeks in 2022. Midwest PADD 2 ethanol production tumbled 45,000 bpd on the week to 912,000 bpd, the lowest output rate since the first week of January. The four-week average output in PADD 2 at 945,000 bpd was 18,000 bpd lower than the same time last year.

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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 13 was 1.11%. The value of DDG relative to soybean meal was 55.87%, and the cost per unit of protein for DDG was $9.59 compared to the cost per unit of protein for soybean meal at $9.76.

In its weekly DDGS export update, the U.S. Grains Council said: "The pipeline for product to the river system remains tight again this week but barge CIF NOLA prices are steady to $2 lower and offered at $339 for last-half April and $332 for May. FOB NOLA offers, however, are $3 to $4 metric ton (mt) higher and average $343 mt for spot positions with a -$5 carry to May. Offers for 40-foot containers to Southeast Asia are higher this week and average $399 mt for Q2 positions."

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 4/13/2023 4/6/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $265 $275 -$10
Wet $155 $155 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $265 $270 -$5
Wet $150 $155 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $248 $248 $0
Indiana Dry $245 $245 $0
Iowa Dry $250 $250 $0
Michigan Dry $255 $245 $10
Minnesota Dry $250 $245 $5
New York Dry $270 $270 $0
South Dakota Dry $255 $255 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $257 $255 $2
Wet $92 $95 -$3
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $275 $270 $5
Iowa Dry $270 $265 $5
Michigan Dry $285 $275 $10
Minnesota Dry $265 $265 $0
Missouri Dry $280 $275 $5
Ohio Dry $265 $260 $5
South Dakota Dry $265 $270 -$5
Nebraska Dry $275 $275 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $275 $285 -$10
Wet* $115 $115 $0
Illinois OUT APRIL Dry $248 $250 -$2
Nebraska Dry $275 $285 -$10
Wet* $115 $115 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $250 $250 $0
Indiana Dry $245 $245 $0
Iowa Dry $240 $240 $0
Michigan Dry $250 $250 $0
Minnesota Dry $245 $240 $5
Nebraska Dry $265 $265 $0
New York Dry $280 $280 $0
North Dakota Dry $255 $255 $0
Ohio Dry $250 $250 $0
South Dakota Dry $255 $255 $0
Wisconsin Dry $245 $245 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $240 $240 $0
Western Kansas Dry $265 $265 $0
Wet $100 $100 $0
**Weekly Average: $259 $258 $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 4/13/2023 $6.5225 $232.9465
Soybean Meal 4/13/2023 $463.60
DDG Weekly Average Spot Price 4/13/2023 $259.00
DDG Value Relative to: 4/13 4/6
Corn 1.11% 1.12%
Soybean Meal 55.87% 56.79%
Cost Per Unit of Protein:
DDG $9.59 $9.56
Soybean Meal $9.76 $9.56
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 Twitter @MaryCKenn

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