Market Matters Blog
DTN Weekly Average DDG Price Higher Again
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended April 21 was $300 per ton, up $2 on average versus one week ago. The higher cash corn prices and the strength in soybean meal and soy oil prices are giving a boost to DDG prices. The lower plant production reported again by EIA is causing tighter supplies, and poor rail logistics are adding to the price strength.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 21 was 105.10%. The value of DDG relative to soybean meal was 63.98%, and the cost per unit of protein for DDG was $11.11, compared to the cost per unit of protein for soybean meal at $9.87.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
The Energy Information Administration reported Wednesday that overall production from domestic ethanol plants declined for a fourth straight week, sliding 48,000 barrels per day (bpd) or 4.8% to a 947,000-bpd more-than-six-month low. Plant output averaged 995,000 bpd during the four weeks ended April 15, 39,000 or 4.1% above the production rate during the comparable four weeks in 2021.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA and FOB Gulf DDGS values are lower this week with barge rates falling $16-$20 per metric ton (mt) while FOB Gulf offers are down $10/mt. Spot FOB Gulf offers are averaging $379/mt this week. Prices for containerized DDGS into southeast Asia are steady for the second time in as many weeks. Changes in ocean freight rates have been muted this week, which has kept some stability in containerize export markets. Offers for 40-foot containers to Southeast Asia are up $1/mt this week at $459 for May/June shipment."
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 | 4/21/2022 | 4/14/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $305 | $315 | -$10 | |
| Wet | $165 | $175 | -$10 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $305 | $305 | $0 | ||
| Wet | $170 | $170 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $295 | $285 | $10 | |
| Indiana | Dry | $295 | $290 | $5 | |
| Iowa | Dry | $295 | $285 | $10 | |
| Michigan | Dry | $280 | $270 | $10 | |
| Minnesota | Dry | $285 | $280 | $5 | |
| New York | Dry | $285 | $305 | -$20 | |
| South Dakota | Dry | $305 | $300 | $5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $310 | $300 | $10 | ||
| Wet | $95 | $95 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $305 | $305 | $0 | |
| Iowa | Dry | $300 | $300 | $0 | |
| Michigan | Dry | $285 | $285 | $0 | |
| Minnesota | Dry | $295 | $295 | $0 | |
| Missouri | Dry | $325 | $325 | $0 | |
| Ohio | Dry | $300 | $300 | $0 | |
| South Dakota | Dry | $325 | $325 | $0 | |
| Nebraska | Dry | $315 | $325 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $330 | $320 | $10 | |
| Wet | $110 | $110 | $0 | ||
| Illinois | Dry | $295 | $290 | $5 | |
| Nebraska | Dry | $330 | $320 | $10 | |
| Wet | $110 | $110 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $290 | $290 | $0 | |
| Indiana | Dry | $300 | $300 | $0 | |
| Iowa | Dry | $280 | $280 | $0 | |
| Michigan | Dry | $285 | $285 | $0 | |
| Minnesota | Dry | $280 | $280 | $0 | |
| Nebraska | Dry | $312 | $312 | $0 | |
| New York | Dry | $319 | $319 | $0 | |
| North Dakota | Dry | $305 | $305 | $0 | |
| Ohio | Dry | $290 | $290 | $0 | |
| South Dakota | Dry | $300 | $300 | $0 | |
| Wisconsin | Dry | $275 | $275 | $0 | |
| Western Kansas | Dry | $365 | $350 | $15 | |
| Wet | $125 | $125 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $435 | $410 | $25 | |
| **Weekly Average: | $300 | $298 | $2 | ||
| (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 | 4/21/2022 | $7.9925 | $285.45 |
| Soybean Meal | 4/21/2022 | $468.90 | |
| DDG Weekly Average Spot Price | $300.00 | ||
| DDG Value Relative to: | 4/21 | 4/14 | |
| Corn | 105.10% | 105.59% | |
| Soybean Meal | 63.98% | 64.59% | |
| Cost Per Unit of Protein: | |||
| DDG | $11.11 | $11.04 | |
| Soybean Meal | $9.87 | $9.71 | |
| 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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