Market Matters Blog
DTN Weekly DDG Price Higher on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended Dec. 16 was $190 per ton, up $2 per ton on average versus one week ago. DDG prices were mixed overall but found strength in the soybean meal rally this week, while the DTN National Corn Index was unchanged versus one week ago at $5.82. The market will likely be quiet as far as demand as we head into the Christmas and New Year holiday weeks.
Wednesday's Energy Information Administration (EIA) report showed total ethanol output declined 3,000 barrels per day (bpd) to 1.087 million bpd last week, about 14% above the same week in 2020. Midwest PADD 2 plant production fell 5,000 bpd to 1.025 million bpd as of Dec. 10, more than 12% above 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 Dec. 16 was 89.98%. The value of DDG relative to soybean meal was 51.03% and the cost per unit of protein for DDG was $7.04, compared to the cost per unit of protein for soybean meal at $7.84.
In its weekly DDGS export price update, the U.S. Grains Council said: "Once again, DDGS demand is quiet on the export market, but Barge CIF NOLA and FOB NOLA offers are higher this week. Barge rates are up $4-$7/MT for Q1 positions while FOB Gulf offers are up $2-$5/MT for the same period. U.S. rail rates are lower this week, with rates for product into the PNW, declining $10-13/MT for January/February. Brokers also report containerized DDGS markets are steady with the prior week and that buying interest is waning seasonally with the holidays approaching."
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 | 12/16/2021 | 12/9/2021 | ||
| 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 | $220 | $210 | $10 | ||
| Wet | $120 | $110 | $10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $170 | $165 | $5 | |
| Iowa | Dry | $170 | $170 | $0 | |
| Michigan | Dry | $165 | $160 | $5 | |
| Minnesota | Dry | $170 | $175 | -$5 | |
| North Dakota | Dry | $205 | $205 | $0 | |
| New York | Dry | $185 | $185 | $0 | |
| South Dakota | Dry | $190 | $190 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $210 | $210 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $185 | $185 | $0 | |
| Iowa | Dry | $180 | $175 | $5 | |
| Michigan | Dry | $175 | $185 | -$10 | |
| Minnesota | Dry | $175 | $180 | -$5 | |
| Missouri | Dry | $208 | $205 | $3 | |
| Ohio | Dry | $185 | $185 | $0 | |
| South Dakota | Dry | $186 | $186 | $0 | |
| Nebraska | Dry | $215 | $215 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Illinois | Dry | $205 | $205 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $185 | $175 | $10 | |
| Indiana | Dry | $180 | $170 | $10 | |
| Iowa | Dry | $170 | $170 | $0 | |
| Michigan | Dry | $170 | $170 | $0 | |
| Minnesota | Dry | $165 | $165 | $0 | |
| Nebraska | Dry | $205 | $195 | $10 | |
| New York | Dry | $200 | $200 | $0 | |
| North Dakota | Dry | $220 | $220 | $0 | |
| Ohio | Dry | $175 | $165 | $10 | |
| South Dakota | Dry | $190 | $197 | -$7 | |
| Wisconsin | Dry | $178 | $170 | $8 | |
| Western Kansas | Dry | $255 | $255 | $0 | |
| Wet | $95 | $95 | 0 | ||
| Central Kansas | Dry | $255 | $255 | 0 | |
| Wet | $90 | $90 | 0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $293 | $293 | $0 | |
| *Prices listed per ton. | $190 | $188 | $2 | ||
| 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 | 12/16/2021 | $5.9125 | $211.16 |
| Soybean Meal | 12/16/2021 | $372.30 | |
| DDG Weekly Average Spot Price | $190.00 | ||
| DDG Value Relative to: | 12/16 | 12/9 | |
| Corn | 89.98% | 89.45% | |
| Soybean Meal | 51.03% | 50.98% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.04 | $6.96 | |
| Soybean Meal | $7.84 | $7.76 | |
| 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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