Market Matters Blog
Weekly DTN Average DDG Price Slightly Higher
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended March 31 was $293 per ton, up $1 on average versus one week ago.
Prices have taken a breather from the recent highs as supplies have become more stable with most plants finished with spring maintenance, along with weakness in the soybean meal futures and cash price.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Thursday, March 31, was 109.57%. The value of DDG relative to soybean meal was 62.67%, and the cost per unit of protein for DDG was $10.85, compared to the cost per unit of protein for soybean meal at $9.84.
The Energy Information Administration reported Wednesday that overall ethanol production retreated from a nine-week high, down 6,000 barrels per day (bpd) to 1.036 million bpd through March 25. Still, output was up 7.4% above a year ago, while four-week average output totaled 1.033 million bpd, up 84,000 bpd from the comparable four-week period in 2021. According to the data, domestic ethanol production has been above 1 million bpd in 23 of the past 25 weeks.
In its weekly DDGS update, the U.S. Grains Council said: "U.S. barge freight rates are heading lower after their recent spike, and this is pushing Barge CIF NOLA DDGS values lower. Prices for spot barge CIF NOLA are down $15-$16 per metric ton (mt) for April and May and down $10-$13/mt for May/June. FOB NOLA values are similarly lower with April/May offers down $18-$20/mt and averaging $420/mt for spot shipment. The market for containerized DDGS into southeast Asia is quiet this week after last week's activity. Brokers indicate offers are sparse but $5-$7/mt higher as ocean freight values remain firm."
NOTE: All prices listed below can change at any time and are subject to confirmation from seller.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||
| COMPANY | STATE | 3/31/2022 | 3/24/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $310 | $305 | $5 | |
| Wet | $170 | $165 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $310 | $300 | $10 | ||
| Wet | $175 | $170 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $285 | $285 | $0 | |
| Indiana | Dry | $290 | $285 | $5 | |
| Iowa | Dry | $285 | $285 | $0 | |
| Michigan | Dry | $255 | $260 | -$5 | |
| Minnesota | Dry | $275 | $275 | $0 | |
| New York | Dry | $275 | $300 | -$25 | |
| South Dakota | Dry | $295 | $295 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $296 | $296 | $0 | ||
| Wet | $95 | $95 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $310 | $310 | $0 | |
| Iowa | Dry | $290 | $285 | $5 | |
| Michigan | Dry | $280 | $280 | $0 | |
| Minnesota | Dry | $295 | $285 | $10 | |
| Missouri | Dry | $310 | $310 | $0 | |
| Ohio | Dry | $310 | $310 | $0 | |
| South Dakota | Dry | $305 | $305 | $0 | |
| Nebraska | Dry | $315 | $315 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $310 | $310 | $0 | |
| Wet | $105 | $105 | $0 | ||
| Illinois | Dry | $290 | $290 | $0 | |
| Nebraska | Dry | $310 | $310 | $0 | |
| Wet | $105 | $105 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $285 | $285 | $0 | |
| Indiana | Dry | $295 | $295 | $0 | |
| Iowa | Dry | $275 | $275 | $0 | |
| Michigan | Dry | $280 | $280 | $0 | |
| Minnesota | Dry | $280 | $280 | $0 | |
| Nebraska | Dry | $310 | $310 | $0 | |
| New York | Dry | $315 | $315 | $0 | |
| North Dakota | Dry | $300 | $300 | $0 | |
| Ohio | Dry | $285 | $285 | $0 | |
| South Dakota | Dry | $295 | $295 | $0 | |
| Wisconsin | Dry | $270 | $270 | $0 | |
| Western Kansas | Dry | $325 | $325 | $0 | |
| Wet | $118 | $118 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $395 | $395 | $0 | |
| **Weekly Average: | $293 | $292 | $1 | ||
| (Prices listed per ton) | |||||
| **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 | 3/31/2022 | $7.4875 | $267.41 |
| Soybean Meal | 3/31/2022 | $467.50 | |
| DDG Weekly Average Spot Price | $293.00 | ||
| DDG Value Relative to: | 3/24 | 3/24 | |
| Corn | 109.57% | 109.26% | |
| Soybean Meal | 62.67% | 60.09% | |
| Cost Per Unit of Protein: | |||
| DDG | $10.85 | $10.81 | |
| Soybean Meal | $9.84 | $10.23 | |
| 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
(c) Copyright 2022 DTN, LLC. All rights reserved.
Comments
To comment, please Log In or Join our Community .