Market Matters Blog
DTN Weekly DDG Average Price Climbs Higher
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended July 28 was $232 per ton, up $7 versus one week ago. Support came from higher cash soybean meal prices and the rise in corn futures this past week. The DTN National Corn Index was up 37 cents versus one week ago.
The Energy Information Administration (EIA) said Wednesday that production at domestic ethanol plants fell 13,000 barrels per day (bpd) to 1.021 million bpd, 0.7% higher than the same week in 2021. Ethanol plant output averaged 1.026 million bpd during the four weeks ended July 22, down 11,000 bpd versus 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 July 28 was 1.06%. The value of DDG relative to soybean meal was 47.37%, and the cost per unit of protein for DDG was $8.59, compared to the cost per unit of protein for soybean meal at $10.31. DTN's estimates moved to utilizing September futures since July has gone off the board.
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In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA DDGS values are up $2 metric ton (mt) for spot shipment and steady/$1 higher for deferred positions. FOB NOLA values are steady for August and September but down $13/mt for October. Offers for 40-foot containers to Southeast Asia are up $4 this week at $398/mt.
"U.S. rail rates are mixed this week with merchandisers noting that 'railroad velocity and last-mile performance ... [are] causing huge issues for origins.' Prices for DDGS at Kansas City or Elwood, Illinois, railyards are down $10-15/mt while prices for DDGS delivered to California, the PNW, or Lethbridge, Alberta, average $7/mt higher. Notably, while offers are readily available for Lethbridge for August and September, there are fewer offers for October."
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 | 7/28/2022 | 7/21/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $260 | $245 | $15 | |
| Wet | $155 | $145 | $10 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $265 | $240 | $25 | ||
| Wet | $130 | $115 | $15 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $220 | $220 | $0 | |
| Indiana | Dry | $215 | $215 | $0 | |
| Iowa | Dry | $225 | $215 | $10 | |
| Michigan | Dry | $205 | $220 | -$15 | |
| Minnesota | Dry | $200 | $195 | $5 | |
| New York | Dry | $200 | $190 | $10 | |
| South Dakota | Dry | $215 | $210 | $5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $235 | $230 | $5 | ||
| Wet | $70 | $70 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $245 | $240 | $5 | |
| Iowa | Dry | $245 | $235 | $10 | |
| Michigan | Dry | $235 | $235 | $0 | |
| Minnesota | Dry | $245 | $235 | $10 | |
| Missouri | Dry | $275 | $275 | $0 | |
| Ohio | Dry | $245 | $240 | $5 | |
| South Dakota | Dry | $245 | $245 | $0 | |
| Nebraska | Dry | $245 | $245 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $240 | $230 | $10 | |
| Wet | $90 | $90 | $0 | ||
| Illinois | Dry | $220 | $220 | $0 | |
| Nebraska | Dry | $230 | $220 | $10 | |
| Wet | $90 | $90 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $227 | $219 | $8 | |
| Indiana | Dry | $230 | $220 | $10 | |
| Iowa | Dry | $210 | $195 | $15 | |
| Michigan | Dry | $235 | $225 | $10 | |
| Minnesota | Dry | $210 | $200 | $10 | |
| Nebraska | Dry | $235 | $230 | $5 | |
| New York | Dry | $245 | $235 | $10 | |
| North Dakota | Dry | $220 | $215 | $5 | |
| Ohio | Dry | $230 | $220 | $10 | |
| South Dakota | Dry | $225 | $215 | $10 | |
| Wisconsin | Dry | $225 | $215 | $10 | |
| Western Kansas | Dry | $245 | $255 | -$10 | |
| Wet | $105 | $105 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California SUBJECT | Dry | $330 | $330 | $0 | |
| **Weekly Average: | $232 | $225 | $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 | 7/28/2022 | $6.1500 | $219.64 |
| Soybean Meal | 7/28/2022 | $489.70 | |
| DDG Weekly Average Spot Price | $232.00 | ||
| DDG Value Relative to: | 7/28 | 7/21 | |
| Corn | 1.06% | 1.09% | |
| Soybean Meal | 47.37% | 51.80% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.59 | $8.33 | |
| Soybean Meal | $10.31 | $9.15 | |
| 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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