Market Matters Blog
DTN Weekly Average DDG Price Steady
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Nov. 4 was $187 per ton, unchanged on average from one week ago. DDG prices were steady as demand has been quiet recently, while soybean meal prices have risen this week.
Wednesday's Energy Information Administration (EIA) report showed domestic ethanol inventories moved higher as production continued to increase, nearing a level not achieved since early December 2017. Overall production increased for a fifth consecutive week, up 1,000 barrels per day (bpd) to 1.107 million bpd, just shy of the 1.108 million-bpd output rate for the first week of December 2017 while 15.2% above the same week in 2020. Midwest PADD 2 plant production held at a record 1.051 million bpd, 15.1% higher than output during the corresponding week last year.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 4 was 93.62%. The value of DDG relative to soybean meal was 55.69% and the cost per unit of protein for DDG was $6.93, compared to the cost per unit of protein for soybean meal at $7.07.
In its weekly DDGS export price update, the U.S. Grains Council said: "Export markets for DDGS are quiet again this week, though values are firming slightly. Barge CIF NOLA offers are steady/down $1 per metric ton (mt) as freight rates ease from recent highs while FOB Gulf offers are up $4 for November shipment and $2/mt for December/January. Bids and offers for containerized DDGS into Southeast Asia remain spotty with light trade, but indications are mostly higher and average $358/mt this week."
The U.S. Census Bureau said this past week that U.S. exports of DDGS totaled 853,751 mt in September, down from 1,243,698 mt in August and down 24% from a year ago. Mexico was the top destination in September, taking 19% of U.S. exports and was followed by Vietnam and South Korea. In the first nine months of 2021, U.S. exports of DDGS are up 5% from a year ago.
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 | 11/4/2021 | 10/28/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $205 | $205 | $0 | |
| Wet | $103 | $103 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $205 | $205 | $0 | ||
| Wet | $105 | $105 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | SUBJECT | ||||
| Illinois | Dry | $175 | $175 | $0 | |
| Indiana | Dry | $165 | $165 | $0 | |
| Iowa | Dry | $170 | $170 | $0 | |
| Michigan | Dry | $170 | $170 | $0 | |
| Minnesota | Dry | $175 | $175 | $0 | |
| North Dakota | Dry | $180 | $180 | $0 | |
| New York | Dry | $205 | $205 | $0 | |
| South Dakota | Dry | $185 | $185 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | |||||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $175 | $175 | $0 | |
| Iowa | Dry | $180 | $180 | $0 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $185 | $185 | $0 | |
| Missouri | Dry | $205 | $205 | $0 | |
| Ohio | Dry | $175 | $175 | $0 | |
| South Dakota | Dry | $195 | $195 | $0 | |
| Nebraska | Dry | $205 | $215 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Illinois | Dry | $192 | $188 | $4 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $180 | $180 | $0 | |
| Indiana | Dry | $180 | $180 | $0 | |
| Iowa | Dry | $175 | $175 | $0 | |
| Michigan | Dry | $190 | $190 | $0 | |
| Minnesota | Dry | $180 | $180 | $0 | |
| Nebraska | Dry | $200 | $200 | $0 | |
| New York | Dry | $210 | $210 | $0 | |
| North Dakota | Dry | $200 | $200 | $0 | |
| Ohio | Dry | $180 | $180 | $0 | |
| South Dakota | Dry | $190 | $190 | $0 | |
| Wisconsin | Dry | $175 | $175 | $0 | |
| Western Kansas | Dry | $230 | $230 | $0 | |
| Wet | $85 | $85 | 0 | ||
| Central Kansas | Dry | $240 | $240 | 0 | |
| Wet | $85 | $85 | 0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $283 | $280 | $3 | |
| *Prices listed per ton. | $187 | $187 | $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 | 11/4/2021 | $5.5925 | $199.73 |
| Soybean Meal | 11/4/2021 | $335.80 | |
| DDG Weekly Average Spot Price | $187.00 | ||
| DDG Value Relative to: | 11/4 | 10/28 | |
| Corn | 93.62% | 93.04% | |
| Soybean Meal | 55.69% | 56.52% | |
| Cost Per Unit of Protein: | |||
| DDG | $6.93 | $6.93 | |
| Soybean Meal | $7.07 | $6.97 | |
| 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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