Market Matters Blog

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended March 14 was down $2 on average at $189 per ton versus one week ago. DDG prices were mixed but lower on average, with corn futures slightly lower versus one week ago and in spite of lower plant production. The DTN National Corn Index was 4 cents lower Thursday versus one week ago.

The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.024 million barrels per day (bpd) as of March 8, down 33,000 bpd week-on-week, while 10,000 bpd or 1% higher than in the same week last year. Four-week average output at 1.06 million bpd was 46,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 973,000 bpd, down 35,000 bpd week-on-week, yet 7,000 bpd or 0.7% higher than in the same week last year. Four-week average output at 1.011 million bpd was 43,000 bpd above the same four weeks in 2022.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended March 14 was 1.22%. The value of DDG relative to soybean meal was 56.72 and the cost per unit of protein for DDG was $7 compared to the cost per unit of protein for soybean meal at $7.01.

According to U.S. Grains Council weekly DDGS export prices, barge CIF NOLA was down $12 versus last week, FOB Vessel Gulf was down $12, rail delivered PNW was down $2 and 40-foot containers to South Korea were down $3 versus one week ago.

Note: All prices subject to change/confirmation.

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

Follow her on X, formerly known as Twitter, @MaryCKenn

(c) Copyright 2024 DTN, LLC. All rights reserved.