Market Matters Blog

DTN Weekly DDG Average Price Lower Again

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains for the week ended June 16 was $7 lower on average versus one week ago. (DTN file photo)

OMAHA (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended June 16 was $238 per ton, down $7 on average versus one week ago. Prices are moving lower as summer has slowed demand from feeders.

The Energy Information Administration report on Wednesday showed production at domestic ethanol plants recouped much of the prior week fall, rising 21,000 barrels per day (bpd) to 1.060 million bpd in the week ended June 10, 3.4% higher than the same week in 2021. Plant output averaged 1.046 million bpd during the four weeks ended June 10 -- 12,000 bpd above the same four weeks a year earlier.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 16 was 84.54%. The value of DDG relative to soybean meal was 55.39%, and the cost per unit of protein for DDG was $8.81, compared to the cost per unit of protein for soybean meal at $9.05.

In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, barge CIF NOLA offers are $10 to $15 metric ton (mt) lower this week, erasing last week's gains and continuing a choppy, mostly sideways trading pattern. FOB Gulf offers down $15/mt for June through August at $330/mt. Offers for 40-foot containers to Southeast Asia, however, are higher by $10 to $14/mt this week at an average offer of $412/mt."

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 6/16/2022 6/9/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $260 $260 $0
Wet $150 $150 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $255 $245 $10
Wet $125 $125 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $240 $245 -$5
Indiana Dry $235 $240 -$5
Iowa Dry $230 $235 -$5
Michigan Dry $230 $235 -$5
Minnesota Dry $225 $235 -$10
New York Dry $230 $240 -$10
South Dakota Dry $240 $260 -$20
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $237 $245 -$8
Wet $77 $77 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $257 $257 $0
Iowa Dry $240 $240 $0
Michigan Dry $255 $255 $0
Minnesota Dry $250 $250 $0
Missouri Dry $270 $270 $0
Ohio Dry $260 $260 $0
South Dakota Dry $240 $240 $0
Nebraska Dry $240 $240 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $240 $260 -$20
Wet $90 $90 $0
Illinois Dry $250 $250 $0
Nebraska Dry $230 $260 -$30
Wet $90 $90 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $230 $240 -$10
Indiana Dry $235 $245 -$10
Iowa Dry $210 $220 -$10
Michigan Dry $240 $245 -$5
Minnesota Dry $210 $225 -$15
Nebraska Dry $230 $230 $0
New York Dry $245 $250 -$5
North Dakota Dry $245 $250 -$5
Ohio Dry $230 $240 -$10
South Dakota Dry $215 $235 -$20
Wisconsin Dry $225 $235 -$10
Western Kansas Dry $265 $280 -$15
Wet $125 $125 $0
Western Milling, Goshen, California (559-302-1074)
California Dry $360 $365 -$5
**Weekly Average: $238 $245 -$7
(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 6/16/2022 $7.8825 $281.52
Soybean Meal 6/16/2022 $429.70
DDG Weekly Average Spot Price $238.00
DDG Value Relative to: 6/16 6/9
Corn 84.54% 88.75%
Soybean Meal 55.39% 57.31%
Cost Per Unit of Protein:
DDG $8.81 $9.07
Soybean Meal $9.05 $9.00
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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