Market Matters Blog
DTN Weekly DDG Price Slightly Lower on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Sept. 23 was $195 per ton, down $1 on average from one week ago. Domestic DDG prices were slightly lower on average as there is no issue with supplies right now according to some merchandisers. Export DDGs are struggling as poor availability and high cost of containers is affecting that market.
Wednesday's Energy Information Administration (EIA) report showed overall ethanol plant production declined after two weeks of higher output -- down 11,000 barrels per day (bpd) or 1.2% to 926,000 bpd. Some plants are taking seasonal maintenance which added to the lower production rates.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sept. 23 was 103.16%. The value of DDG relative to soybean meal was 57.93% and the cost per unit of protein for DDG was $7.22, compared to the cost per unit of protein for soybean meal at $7.09.
In its weekly DDGS export price update, the U.S. Grains Council said: "On the export market, DDGS values are slightly lower this week, though the reasoning remains unclear. Barge CIF NOLA offers are down $2 for spot positions and $5 to $6 for deferred while FOB Gulf offers are down $5 to $7 metric ton (mt) at $260 for October/November shipment. At the same time, brokers report strong demand from Southeast Asia with 'buyers chasing values higher.' Offers for 40-foot containers to Southeast Asia are up $10/mt on average this week at $346/mt."
The Mississippi River has mostly recovered from Hurricane Ida, but low water in parts of the river has created shoaling south of St. Louis. Recent rains have allowed barges to return to normal drafts, but more rain is needed to keep the levels from falling again. The Mississippi River at Memphis is expected to fall back below the low water stage and St. Louis is expected to fall below zero gauge by early October unless more rain comes.
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 | 9/23/2021 | 9/16/2021 | ||||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||||
Missouri | Dry | $210 | $210 | $0 | |||
Wet | $105 | $105 | $0 | ||||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||||
Dry | $205 | $205 | $0 | ||||
Wet | $102 | $102 | $0 | ||||
CHS, Minneapolis, MN (800-769-1066) | |||||||
Illinois | Dry | $185 | $185 | $0 | |||
Indiana | Dry | $180 | $185 | -$5 | |||
Iowa | Dry | $185 | $190 | -$5 | |||
Michigan | Dry | $185 | $190 | -$5 | |||
Minnesota | Dry | $185 | $190 | -$5 | |||
North Dakota | Dry | $190 | $190 | $0 | |||
New York | Dry | $195 | $220 | -$25 | |||
South Dakota | Dry | $190 | $190 | $0 | |||
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||||
Indiana | Dry | $195 | $195 | $0 | |||
Iowa | Dry | $200 | $205 | -$5 | |||
Michigan | Dry | $195 | $200 | -$5 | |||
Minnesota | Dry | $200 | $205 | -$5 | |||
Missouri | Dry | $210 | $215 | -$5 | |||
Ohio | Dry | $190 | $190 | $0 | |||
South Dakota | Dry | $207 | $210 | -$3 | |||
Nebraska | Dry | $205 | $205 | $0 | |||
United BioEnergy, Wichita, KS (316-616-3521) | |||||||
Kansas | Dry | $205 | $195 | $10 | |||
Wet | $80 | $80 | $0 | ||||
Illinois | Dry | $195 | $195 | $0 | |||
Nebraska | Dry | $205 | $195 | $10 | |||
Wet | $80 | $80 | $0 | ||||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||||
Illinois | Dry | $195 | $195 | $0 | |||
Indiana | Dry | $190 | $195 | -$5 | |||
Iowa | Dry | $195 | $192 | $3 | |||
Michigan | Dry | $195 | $195 | $0 | |||
Minnesota | Dry | $193 | $190 | $3 | |||
Nebraska | Dry | $195 | $195 | $0 | |||
New York | Dry | $210 | $210 | $0 | |||
North Dakota | Dry | $203 | $203 | $0 | |||
Ohio | Dry | $195 | $190 | $5 | |||
South Dakota | Dry | $200 | $200 | $0 | |||
Wisconsin | Dry | $180 | $175 | $5 | |||
Western Milling, Goshen, California (559-302-1074) | |||||||
California subject | Dry | $262 | $263 | -$1 | |||
*Prices listed per ton. | $195 | $196 | -$1 | ||||
Weekly Average | |||||||
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 | 9/23/2021 | $5.2925 | $189.02 | ||||
Soybean Meal | 9/23/2021 | $336.60 | |||||
DDG Weekly Average Spot Price | $195.00 | ||||||
DDG Value Relative to: | 9/23 | 9/16 | |||||
Corn | 103.16% | 103.65% | |||||
Soybean Meal | 57.93% | 57.61% | |||||
Cost Per Unit of Protein: | |||||||
DDG | $7.22 | $7.26 | |||||
Soybean Meal | $7.09 | $7.16 | |||||
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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