Market Matters Blog
DTN Weekly DDG Price Falls Lower on Average
OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended May 19 was $269 per ton, down $17 on average versus two weeks ago. While strength in soybean meal is supportive to DDG prices, prices overall have been weaker since the beginning of May due in part to lower cash corn prices. The DTN National Corn Index on May 1 was at $8 versus the May 19 index at $7.76.
The Energy Information Administration report Wednesday showed a draw in domestic ethanol inventory through the week ending May 13 as demand nears a seven-month high, while production was flat on the week. EIA reported production at U.S. ethanol plants remained at 991,000 barrels per day (bpd) through May 13, 4% below the same week in 2021. Plant output averaged 889,000 bpd during the four weeks ended May 13 -- 5,000 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 19 was 96.16%. The value of DDG relative to soybean meal was 63.25%, and the cost per unit of protein for DDG was $9.96, compared to the cost per unit of protein for soybean meal at $8.95.
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 up $11 metric ton (mt) for June through August as buyers stepped up following the recent declines. FOB Gulf offers are up $13/mt in tandem with strength in the barge market and fresh export interest. Container offers are up $2 to $5/mt this week on gains in ocean freight. The average offer for 40-foot containers to Southeast Asia is $425/mt for June-August shipment."
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 | 5/19/2022 | 5/5/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $270 | $295 | -$25 | |
| Wet | $155 | $160 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $260 | $280 | -$20 | ||
| Wet | $130 | $150 | -$20 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $255 | $260 | -$5 | |
| Indiana | Dry | $245 | $260 | -$15 | |
| Iowa | Dry | $260 | $270 | -$10 | |
| Michigan | Dry | $255 | $265 | -$10 | |
| Minnesota | Dry | $260 | $265 | -$5 | |
| New York | Dry | $265 | $285 | -$20 | |
| South Dakota | Dry | $280 | $285 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $250 | $290 | -$40 | ||
| Wet | $85 | $102 | -$17 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $270 | $285 | -$15 | |
| Iowa | Dry | $280 | $295 | -$15 | |
| Michigan | Dry | $265 | $280 | -$15 | |
| Minnesota | Dry | $275 | $290 | -$15 | |
| Missouri | Dry | $295 | $315 | -$20 | |
| Ohio | Dry | $270 | $285 | -$15 | |
| South Dakota | Dry | $290 | $310 | -$20 | |
| Nebraska | Dry | $270 | $300 | -$30 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $310 | $330 | -$20 | |
| Wet | $110 | $110 | $0 | ||
| Illinois | Dry | $265 | $295 | -$30 | |
| Nebraska | Dry | $310 | $330 | -$20 | |
| Wet | $110 | $110 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $265 | $280 | -$15 | |
| Indiana | Dry | $270 | $290 | -$20 | |
| Iowa | Dry | $255 | $265 | -$10 | |
| Michigan | Dry | $268 | $275 | -$7 | |
| Minnesota | Dry | $255 | $270 | -$15 | |
| Nebraska | Dry | $265 | $290 | -$25 | |
| New York | Dry | $290 | $305 | -$15 | |
| North Dakota | Dry | $275 | $295 | -$20 | |
| Ohio | Dry | $250 | $280 | -$30 | |
| South Dakota | Dry | $289 | $295 | -$6 | |
| Wisconsin | Dry | $250 | $267 | -$17 | |
| Western Kansas | Dry | $335 | $365 | -$30 | |
| Wet | $140 | $125 | $15 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $375 | $400 | -$25 | |
| **Weekly Average: | $269 | $286 | -$17 | ||
| (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 | 5/19/2022 | $7.8325 | $279.73 |
| Soybean Meal | 5/19/2022 | $425.30 | |
| DDG Weekly Average Spot Price | $269.00 | ||
| DDG Value Relative to: | 5/19 | 5/5 | |
| Corn | 96.16% | 99.63% | |
| Soybean Meal | 63.25% | 66.99% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.96 | $10.59 | |
| Soybean Meal | $8.95 | $8.99 | |
| 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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