Market Matters Blog
DTN Weekly DDG Price Lower on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Nov. 11 was $183 per ton, down $4 per ton on average from one week ago. DDG prices were under pressure the past week from a slowdown in spot demand, while supplies remain plentiful at most plants.
Wednesday's Energy Information Administration (EIA) report showed domestic ethanol inventories continued to the upside during the first week of November, though production retreated for the first time in over a month, moving off a near four-year high. Overall production declined for the first time in six weeks, down 68,000 barrels per day (bpd) to 1.039 million bpd, 6.3% above the same week in 2020. Midwest PADD 2 plant production moved off a record high, down 69,000 bpd or 6.6% to 928,000 bpd, 5.9% 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. 11 was 89.97%. The value of DDG relative to soybean meal was 53.12% and the cost per unit of protein for DDG was $6.78, compared to the cost per unit of protein for soybean meal at $7.25.
In its weekly DDGS export price update, the U.S. Grains Council said: "DDGS prices are mixed on the export market with Barge CIF NOLA and FOB NOLA offers rising this week. Barge rates are up $8 to $10 metric ton (mt) this week while FOB Gulf offers are up $7/mt for December positions and up $5 to $6/mt for Q1 2022. Brokers report Asian destinations remain quiet despite the recent pullback in freight values. The average offer price for 40-foot containers to Southeast Asia hit $350/mt for December/January shipment this week, down $8/mt from last 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 | 11/11/2021 | 11/4/2021 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $208 | $205 | $3 | |
| Wet | $104 | $103 | $1 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $205 | $205 | $0 | ||
| Wet | $105 | $105 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $190 | $175 | $15 | |
| Indiana | Dry | $155 | $165 | -$10 | |
| Iowa | Dry | $170 | $170 | $0 | |
| Michigan | Dry | $170 | $170 | $0 | |
| Minnesota | Dry | $170 | $175 | -$5 | |
| North Dakota | Dry | $175 | $180 | -$5 | |
| New York | Dry | $205 | $205 | $0 | |
| South Dakota | Dry | $180 | $185 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | |||||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $175 | $175 | $0 | |
| Iowa | Dry | $176 | $180 | -$4 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $180 | $185 | -$5 | |
| Missouri | Dry | $205 | $205 | $0 | |
| Ohio | Dry | $175 | $175 | $0 | |
| South Dakota | Dry | $186 | $195 | -$9 | |
| Nebraska | Dry | $195 | $205 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Illinois | Dry | $192 | $192 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $175 | $180 | -$5 | |
| Indiana | Dry | $170 | $180 | -$10 | |
| Iowa | Dry | $175 | $175 | $0 | |
| Michigan | Dry | $180 | $190 | -$10 | |
| Minnesota | Dry | $165 | $180 | -$15 | |
| Nebraska | Dry | $190 | $200 | -$10 | |
| New York | Dry | $200 | $210 | -$10 | |
| North Dakota | Dry | $195 | $200 | -$5 | |
| Ohio | Dry | $165 | $180 | -$15 | |
| South Dakota | Dry | $185 | $190 | -$5 | |
| Wisconsin | Dry | $170 | $175 | -$5 | |
| Western Kansas | Dry | $255 | $245 | $10 | |
| Wet | $95 | $95 | 0 | ||
| Central Kansas | Dry | $240 | $240 | 0 | |
| Wet | $85 | $85 | 0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $288 | $283 | $5 | |
| *Prices listed per ton. | $183 | $187 | -$4 | ||
| 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 | 11/11/2021 | $5.6950 | $203.39 |
| Soybean Meal | 11/11/2021 | $344.50 | |
| DDG Weekly Average Spot Price | $183.00 | ||
| DDG Value Relative to: | 11/11 | 11/4 | |
| Corn | 89.97% | 93.62% | |
| Soybean Meal | 53.12% | 55.69% | |
| Cost Per Unit of Protein: | |||
| DDG | $6.78 | $6.93 | |
| Soybean Meal | $7.25 | $7.07 | |
| 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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