Market Matters Blog

DTN Weekly Average DDG Price Continues Lower

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains during the week ended June 24 was $11 lower on average versus one week ago. (DTN file photo)

OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from the 39 locations reporting for the week ended June 24 was $178 per ton, down $11 from one week ago. DDG continue lower with weakness in the cash corn recently and lower soymeal and other feed products. The DTN National Corn Index on June 24 is 58 cents lower since June 1. A merchandiser told DTN that buyers are only coming to the table nearby on an as needed basis.

Wednesday's Energy Information Administration report showed domestic ethanol plant production rose 23,000 barrels per day (bpd) to 1.048 million bpd while four-week average output was 1.044 million bpd, up 10,000 bpd from the four-week average the prior week.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 24 was 76.29% versus the three-year average of 110%. The value of DDG relative to soybean meal was 51.47% versus the three-year average of 42%. The cost per unit of protein for DDG was $6.59, compared to the cost per unit of protein for soybean meal at $7.28.

In their weekly DDGS export price update, the U.S. Grains Council said, "Exporters report solid daily interest from international buyers, but also that purchases have slowed amid heightened market volatility. Prices are generally weaker this week with Barge CIF NOLA offers down $11 per metric ton (MT) for July while FOB Gulf offers are down $15 to $19/MT. A dip in prices seems to have spurred interest from buyers in Southeast Asia, and exporters report increasing activity for that market. Prices for 40-foot containers to Southeast Asia are down $12/MT on average this week at $320/MT."

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 6/24/2021 6/17/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $175 $195 -$20
Wet $92 $98 -$6
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
SUBJECT Dry $180 $180 $0
Wet $85 $85 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $185 $185 $0
Indiana Dry $175 $185 -$10
Iowa Dry $180 $190 -$10
Michigan Dry $175 $185 -$10
Minnesota Dry $165 $180 -$15
North Dakota Dry $160 $175 -$15
New York Dry $210 $220 -$10
South Dakota Dry $165 $180 -$15
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $185 $195 -$10
Iowa Dry $185 $199 -$14
Michigan Dry $190 $200 -$10
Minnesota Dry $185 $190 -$5
Missouri Dry $190 $219 -$29
Ohio Dry $185 $195 -$10
South Dakota Dry $180 $199 -$19
Nebraska Dry $170 $195 -$25
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $190 $200 -$10
Wet $75 $80 -$5
Illinois Dry $190 $200 -$10
Nebraska Dry $190 $200 -$10
Wet $75 $80 -$5
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $175 $190 -$15
Indiana Dry $180 $190 -$10
Iowa Dry $165 $175 -$10
Michigan Dry $180 $190 -$10
Minnesota Dry $165 $175 -$10
Nebraska Dry $155 $165 -$10
New York Dry $225 $235 -$10
North Dakota Dry $175 $190 -$15
Ohio Dry $195 $205 -$10
South Dakota Dry $160 $170 -$10
Wisconsin Dry $170 $175 -$5
Valero Energy Corp, San Antonio, Texas
Indiana Dry $195 $200 -$5
Iowa Dry $180 $190 -$10
Minnesota Dry $170 $180 -$10
Nebraska Dry $170 $180 -$10
Ohio Dry $195 $200 -$5
South Dakota Dry $185 $195 -$10
Western Milling, Goshen, California (559-302-1074)
California Dry $255 $260 -$5
*Prices listed per ton.
Weekly Average $178 $189 -$11
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 6/24/2021 $6.5325 $233.30
Soybean Meal 6/24/2021 $345.80
DDG Weekly Average Spot Price $178.00
DDG Value Relative to: 6/24 6/17
Corn 76.29% 83.60%
Soybean Meal 51.47% 52.28%
Cost Per Unit of Protein:
DDG $6.59 $7.00
Soybean Meal $7.28 $7.61
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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