Market Matters Blog
DTN Weekly DDG Price Moves Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended April 27 was $254 per ton, down $3 from one week ago. Prices were mixed but lower on average due to the cheaper soybean meal and cash corn prices. The cash corn price has fallen sharply compared to one week ago, with the DTN National Corn Index down 58 cents versus the April 20 price.
The Energy Information Administration (EIA) at midweek showed ethanol production in the United States dropped 57,000 barrels per day (bpd) to 967,000 bpd through the week ended April 21, 4,000 bpd more than the same week in 2022. Four-week average output at 988,000 bpd was 11,000 bpd above the same four weeks in 2022. Midwest PADD 2 ethanol production tumbled 58,000 bpd or 6% to 916,000 bpd, 14,000 bpd higher than a year earlier. Four-week average output in PADD 2 at 939,000 bpd was 21,000 bpd higher than the same four-week period a year ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 27 was 1.13%. The value of DDG relative to soybean meal was 59.36 and the cost per unit of protein for DDG was $9.41 compared to the cost per unit of protein for soybean meal at $9.01. (Futures used in the table are still based the May).
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In its weekly DDGS export update, the U.S. Grains Council said: "Barge rates continue to work their way lower and keep export offers competitive. Barge CIF NOLA offers are down $15 metric ton (mt) for May -- July positions while FOB NOLA offers are down $22 for spot shipment compared to last week and are $18 to $20 mt lower for June and July. Container rates, however, are slightly higher with offers for 40-foot containers to Southeast Asia up $2 mt at $388 mt."
Flooding continues on the Upper Mississippi River, with 32 gauges in flood stage, stopping barges from getting south of Lock 20 near Canton, Missouri. Expectations are for that to be an issue at least through mid-May. NWS flood forecast map: https://www.weather.gov/…
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 | 4/27/2023 | 4/20/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $255 | $260 | -$5 | |
| Wet | $155 | $155 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $260 | $260 | $0 | ||
| Wet | $150 | $155 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $235 | $245 | -$10 | |
| Indiana | Dry | $235 | $245 | -$10 | |
| Iowa | Dry | $240 | $250 | -$10 | |
| Michigan | Dry | $240 | $250 | -$10 | |
| Minnesota | Dry | $240 | $245 | -$5 | |
| New York | Dry | $275 | $270 | $5 | |
| South Dakota | Dry | $245 | $255 | -$10 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $243 | $250 | -$7 | ||
| Wet | $92 | $95 | -$3 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $265 | $270 | -$5 | |
| Iowa | Dry | $265 | $265 | $0 | |
| Michigan | Dry | $270 | $275 | -$5 | |
| Minnesota | Dry | $265 | $265 | $0 | |
| Missouri | Dry | $280 | $280 | $0 | |
| Ohio | Dry | $260 | $265 | -$5 | |
| South Dakota | Dry | $265 | $265 | $0 | |
| Nebraska | Dry | $270 | $270 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $275 | $275 | $0 | |
| Wet* | $115 | $115 | $0 | ||
| Illinois OUT MAY | Dry | $248 | $248 | $0 | |
| Nebraska | Dry | $275 | $275 | $0 | |
| 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 | $245 | $0 | |
| Nebraska | Dry | $260 | $260 | $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 | $245 | -$5 | ||
| Western Kansas | Dry | $265 | $265 | $0 | |
| Wet | $100 | $100 | $0 | ||
| **Weekly Average: | $254 | $257 | -$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 | 4/27/2023 | $6.2700 | $223.9286 |
| Soybean Meal | 4/27/2023 | $427.90 | |
| DDG Weekly Average Spot Price | 4/27/2023 | $254.00 | |
| DDG Value Relative to: | 4/27 | 4/20 | |
| Corn | 1.13% | 1.08% | |
| Soybean Meal | 59.36% | 56.95% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.41 | $9.52 | |
| Soybean Meal | $9.01 | $9.50 | |
| 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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