Market Matters Blog
DTN Weekly DDG Price Slides Lower on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended May 5 was $296 per ton, down $4 on average versus one week ago. An uptick again in ethanol plant production, along with lower soybean meal prices, is putting pressure on DDG prices. (There will be no DDG price update the week of May 9.)
The Energy Information Administration reported Wednesday that domestic ethanol plants increased production a second week, up 0.6% to 969,000 barrels per day (bpd) through April 29, 1.8% above the same week in 2021. Plant output averaged 969,000 bpd during the four weeks ended April 29 -- 24,000 bpd higher than during the comparable four weeks a year ago.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended May 5 was 99.63%. The value of DDG relative to soybean meal was 66.99%, and the cost per unit of protein for DDG was $10.59, compared to the cost per unit of protein for soybean meal at $8.99.
In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, brokers and exporters report that Barge CIF NOLA values are down $19 to $22 metric ton (mt) for May through August shipment while FOB Gulf offers are down $20-25/mt. FOB Gulf offers for June averaged $343/mt this week, down $27 from the prior week. Container offers are down as well, though have seen greater support than the FOB market. Offers for 40-foot containers into Southeast Asia are down $16/mt from last week at $443/mt."
U.S. Census Bureau said Wednesday that U.S. exports of DDGS totaled 927,134 mt in March, up from 870,844 mt in February and up 5% from a year ago. Mexico was the top destination in March, taking 20% of U.S. exports, and was followed by South Korea and Vietnam. In the first three months of 2022, U.S. exports of DDGS were up 12%.
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 | 5/5/2022 | 4/28/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $295 | $300 | -$5 | |
| Wet | $160 | $165 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $280 | $298 | -$18 | ||
| Wet | $150 | $155 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $260 | $280 | -$20 | |
| Indiana | Dry | $260 | $280 | -$20 | |
| Iowa | Dry | $270 | $285 | -$15 | |
| Michigan | Dry | $265 | $280 | -$15 | |
| Minnesota | Dry | $265 | $280 | -$15 | |
| New York | Dry | $285 | $285 | $0 | |
| South Dakota | Dry | $285 | $305 | -$20 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $290 | $295 | -$5 | ||
| Wet | $102 | $105 | -$3 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $285 | $305 | -$20 | |
| Iowa | Dry | $295 | $300 | -$5 | |
| Michigan | Dry | $280 | $285 | -$5 | |
| Minnesota | Dry | $290 | $295 | -$5 | |
| Missouri | Dry | $315 | $315 | $0 | |
| Ohio | Dry | $285 | $300 | -$15 | |
| South Dakota | Dry | $310 | $320 | -$10 | |
| Nebraska | Dry | $300 | $310 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $330 | $330 | $0 | |
| Wet | $110 | $110 | $0 | ||
| Illinois | Dry | $295 | $295 | $0 | |
| Nebraska | Dry | $330 | $330 | $0 | |
| Wet | $110 | $110 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $280 | $290 | -$10 | |
| Indiana | Dry | $290 | $300 | -$10 | |
| Iowa | Dry | $265 | $275 | -$10 | |
| Michigan | Dry | $275 | $285 | -$10 | |
| Minnesota | Dry | $270 | $280 | -$10 | |
| Nebraska | Dry | $290 | $300 | -$10 | |
| New York | Dry | $305 | $315 | -$10 | |
| North Dakota | Dry | $295 | $305 | -$10 | |
| Ohio | Dry | $280 | $290 | -$10 | |
| South Dakota | Dry | $295 | $305 | -$10 | |
| Wisconsin | Dry | $267 | $275 | -$8 | |
| Western Kansas | Dry | $365 | $365 | $0 | |
| Wet | $125 | $125 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $400 | $405 | -$5 | |
| **Weekly Average: | $286 | $296 | -$10 | ||
| (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 | 5/5/2022 | $8.0375 | $287.05 |
| Soybean Meal | 5/5/2022 | $426.90 | |
| DDG Weekly Average Spot Price | $286.00 | ||
| DDG Value Relative to: | 5/5 | 4/28 | |
| Corn | 99.63% | 101.57% | |
| Soybean Meal | 66.99% | 67.24% | |
| Cost Per Unit of Protein: | |||
| DDG | $10.59 | $10.96 | |
| Soybean Meal | $8.99 | $9.27 | |
| 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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