Market Matters Blog
DTN Weekly Average DDG Price Lower
OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) from the 39 locations DTN contacted with spot offers for the week ended March 4 was $234 per ton, down $5 on average from one week ago. DDG prices were lower as logistics improved and plants increased production, recouping some of what was lost due to Winter Storm Uri related issues the prior week.
Wednesday's Energy Information Administration report showed overall ethanol plant production increased 191,000 barrels per day (bpd) or 29% in the week ended Feb. 26 to 849,000 bpd while 19.4% lower than the corresponding week in 2020. Four-week average output dropped 213,000 bpd against year ago to 838,000 bpd.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended March 4 was 119.94% versus the five-year average of 109%. The value of DDG relative to soybean meal was 55.97% versus the three-year average of 42%. The cost per unit of protein for DDG was $8.67, compared to the cost per unit of protein for soybean meal at $8.80.
In their weekly export DDGS update, the U.S. Grains Council said that, "Improving river logistics are helping move CIF NOLA rates lower, with spot offers down $6 per metric ton (MT) and April/May down $16/MT at $288/MT. FOB NOLA offers are down $6/MT for March positions while second quarter offers are sharply lower at $296-297. Declining soymeal offers in the U.S. and Argentina have pressured DDGS values, but export interest remains strong. Prices for 40-foot containers to Southeast Asia are down $5 to $10/MT this week and are averaging $348/MT."
The U.S. Census Bureau said Friday that U.S. exports of DDGS totaled 916,541 mt in January, up from 842,738 mt in December, but down 6% from a year ago. Mexico was the top destination in January, taking 20% of U.S. exports and was followed by South Korea and numerous other customers.
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 | 3/4/2021 | 2/25/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $260 | $263 | -$3 | |
| Wet | $130 | $132 | -$2 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| W/O March 8 | Dry | $250 | $250 | $0 | |
| Wet | $125 | $125 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $235 | $240 | -$5 | |
| Indiana | Dry | $230 | $235 | -$5 | |
| Iowa | Dry | $230 | $235 | -$5 | |
| Michigan | Dry | $202 | $232 | -$30 | |
| Minnesota | Dry | $220 | $230 | -$10 | |
| North Dakota | Dry | $225 | $225 | $0 | |
| New York | Dry | $270 | $275 | -$5 | |
| South Dakota | Dry | $220 | $230 | -$10 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $240 | $245 | -$5 | |
| Iowa | Dry | $235 | $240 | -$5 | |
| Michigan | Dry | $240 | $245 | -$5 | |
| Minnesota | Dry | $230 | $235 | -$5 | |
| Missouri | Dry | $260 | $270 | -$10 | |
| Ohio | Dry | $235 | $240 | -$5 | |
| South Dakota | Dry | $235 | $250 | -$15 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $243 | $243 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Illinois | Dry | $244 | $244 | $0 | |
| Nebraska | Dry | $243 | $243 | $0 | |
| Wet | $75 | $75 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $240 | $240 | $0 | |
| Indiana | Dry | $235 | $240 | -$5 | |
| Iowa | Dry | $225 | $230 | -$5 | |
| Michigan | Dry | $230 | $235 | -$5 | |
| Minnesota | Dry | $220 | $225 | -$5 | |
| Nebraska | Dry | $235 | $235 | $0 | |
| New York | Dry | $265 | $285 | -$20 | |
| North Dakota | Dry | $235 | $235 | $0 | |
| Ohio | Dry | $230 | $235 | -$5 | |
| South Dakota | Dry | $225 | $230 | -$5 | |
| Wisconsin | Dry | $225 | $230 | -$5 | |
| Valero Energy Corp, San Antonio, Texas | |||||
| Indiana | Dry | $230 | $240 | -$10 | |
| Iowa | Dry | $0 | $0 | $0 | |
| Minnesota | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $0 | $0 | $0 | |
| Ohio | Dry | $235 | $245 | -$10 | |
| South Dakota | Dry | $0 | $0 | $0 | |
| California | Dry | $0 | $0 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $310 | $315 | -$5 | |
| *Prices listed per ton. | |||||
| Weekly Average | $234 | $239 | -$5 | ||
| 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 | 3/4/2021 | $5.4625 | $195.09 |
| Soybean Meal | 3/4/2021 | $418.10 | |
| DDG Weekly Average Spot Price | $234.00 | ||
| DDG Value Relative to: | 3/4 | 2/25 | |
| Corn | 119.94% | 120.63% | |
| Soybean Meal | 55.97% | 56.35% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.67 | $8.85 | |
| Soybean Meal | $8.80 | $8.93 | |
| 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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