Market Matters Blog
DTN Weekly DDG Price Steady on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Sept. 30 was $195 per ton, unchanged on average from one week ago. DDG prices were mixed this week, while the cash corn price hasn't changed much from one week ago to have a big effect on the market. The DTN National Corn Index is 4 cents higher from one week ago, while average basis was 7 cents weaker. Some merchandisers have said trucks are hard to come by and freight is expensive.
Wednesday's Energy Information Administration (EIA) report showed domestic ethanol inventories continued higher in the week ended Sept. 24, while data showed the decline in production was nearly matched by the uptick in demand. Overall production fell for a second week, down 12,000 barrels per day (bpd) or 1.3% to 914,000 bpd, which was 3.7% more than a year earlier. Midwest PADD 2 plant production fell for the first time in four weeks, down 19,000 bpd to 866,000 bpd.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sept. 30 was 101.72%. The value of DDG relative to soybean meal was 59.78% and the cost per unit of protein for DDG was $7.22, compared to the cost per unit of protein for soybean meal at $6.87.
In its weekly DDGS export price update, the U.S. Grains Council said: "On the export market, DDGS values are higher with sellers accounting for higher freight rates. Barge CIF NOLA rates are up $6 to $7 metric ton (mt) for November/December shipment while FOB NOLA offers are up $4 to $5/mt. U.S. rail rates are higher as well with offers for product into Lethbridge, Alberta, up $8/mt this week. Offers for containerized DDGS to Southeast Asia are spotty with brokers amid the uncertainty in freight rates. Bid/ask spreads are wide this week with few trades confirmed so far. On average, offers are up $1/mt at $348/mt this week."
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 | 9/30/2021 | 9/23/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $205 | $210 | -$5 | |
| Wet | $103 | $105 | -$2 | ||
| 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 | $180 | $185 | -$5 | |
| Indiana | Dry | $180 | $180 | $0 | |
| Iowa | Dry | $175 | $185 | -$10 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $185 | $185 | $0 | |
| North Dakota | Dry | $195 | $190 | $5 | |
| New York | Dry | $200 | $195 | $5 | |
| South Dakota | Dry | $195 | $190 | $5 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $190 | $195 | -$5 | |
| Iowa | Dry | $195 | $200 | -$5 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| Missouri | Dry | $210 | $210 | $0 | |
| Ohio | Dry | $190 | $190 | $0 | |
| South Dakota | Dry | $210 | $207 | $3 | |
| Nebraska | Dry | $215 | $205 | $10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $205 | $205 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Illinois | Dry | $195 | $195 | $0 | |
| Nebraska | Dry | $205 | $205 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $195 | -$5 | |
| Indiana | Dry | $190 | $190 | $0 | |
| Iowa | Dry | $190 | $195 | -$5 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $193 | $193 | $0 | |
| Nebraska | Dry | $195 | $195 | $0 | |
| New York | Dry | $210 | $210 | $0 | |
| North Dakota | Dry | $203 | $203 | $0 | |
| Ohio | Dry | $190 | $195 | -$5 | |
| South Dakota | Dry | $200 | $200 | $0 | |
| Wisconsin | Dry | $180 | $180 | $0 | |
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $268 | $262 | $6 | |
| *Prices listed per ton. | $195 | $195 | $0 | ||
| 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 | 9/30/2021 | $5.3675 | $191.70 |
| Soybean Meal | 9/30/2021 | $326.20 | |
| DDG Weekly Average Spot Price | $195.00 | ||
| DDG Value Relative to: | 9/30 | 9/23 | |
| Corn | 101.72% | 103.16% | |
| Soybean Meal | 59.78% | 57.93% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.22 | $7.22 | |
| Soybean Meal | $6.87 | $7.09 | |
| 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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