Market Matters Blog
DTN Weekly DDG Price Higher on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended Sept. 29 was $262 per ton, up $4 on average versus one week ago. DDG prices were mixed, with some states pulling back, but the ones that showed higher prices might be tight on supplies. The drop in soybean meal recently has added pressure to the DDG and other feedstuff markets, along with a lower cash corn market. The DTN National Corn Index was 27 cents lower Thursday versus one week ago.
The Energy Information Administration (EIA) Wednesday showed another sharp downturn in ethanol production in the United States through Sept. 23. Overall domestic ethanol production dropped for a third week last week, tumbling 46,000 barrels per day (bpd) to 855,000 bpd, the lowest level since the week ended Feb. 19, 2021, when output averaged 658,000 bpd while down 6.5% from this time last year. A 51,000 bpd or 6% reduction in Midwest ethanol production to 799,000 bpd led the decline.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Sep. 29 was 1.10%. The value of DDG relative to soybean meal was 64.04%, and the cost per unit of protein for DDG was $9.70 compared to the cost per unit of protein for soybean meal at $8.61.
In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, Barge CIF NOLA offers are steady this week as rising barge freight offsets lower product values. FOB NOLA offers are down $2 to $3 metric ton (mt) for spot positions and steady for December or January shipment. The pullback in ocean freight rates left the containerized DDGS market down $4/mt with product destined for Southeast Asia averaging $402/mt this week."
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 | 9/29/2022 | 9/22/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $290 | $285 | $5 | |
| Wet | $165 | $165 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $300 | $290 | $10 | ||
| Wet | $155 | $150 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $240 | $240 | $0 | |
| Indiana | Dry | $220 | $225 | -$5 | |
| Iowa | Dry | $260 | $260 | $0 | |
| Michigan | Dry | $220 | $220 | $0 | |
| Minnesota | Dry | $245 | $245 | $0 | |
| New York | Dry | $240 | $240 | $0 | |
| South Dakota | Dry | $270 | $265 | $5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $305 | $315 | -$10 | ||
| Wet | $110 | $105 | $5 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $250 | $250 | $0 | |
| Iowa | Dry | $300 | $300 | $0 | |
| Michigan | Dry | $235 | $225 | $10 | |
| Minnesota | Dry | $300 | $300 | $0 | |
| Missouri | Dry | $285 | $285 | $0 | |
| Ohio | Dry | $250 | $245 | $5 | |
| South Dakota | Dry | $300 | $290 | $10 | |
| Nebraska | Dry | $315 | $325 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $295 | $285 | $10 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| Illinois | Dry | $240 | $240 | $0 | |
| Nebraska | Dry | $295 | $285 | $10 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $235 | $235 | $0 | |
| Indiana | Dry | $230 | $230 | $0 | |
| Iowa | Dry | $260 | $240 | $20 | |
| Michigan | Dry | $220 | $215 | $5 | |
| Minnesota | Dry | $250 | $240 | $10 | |
| Nebraska | Dry | $295 | $295 | $0 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $240 | $240 | $0 | |
| Ohio | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $260 | $240 | $20 | |
| Wisconsin | Dry | $220 | $215 | $5 | |
| Western Kansas | Dry | $290 | $290 | $0 | |
| Wet | $105 | $105 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $348 | $352 | -$4 | |
| **Weekly Average: | $262 | $258 | $4 | ||
| (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 | 9/29/2022 | $6.6950 | $239.1072 |
| Soybean Meal | 9/29/2022 | $409.10 | |
| DDG Weekly Average Spot Price | $262.00 | ||
| DDG Value Relative to: | 9/29/2022 | 9/22/2002 | |
| Corn | 1.10% | 1.05% | |
| Soybean Meal | 64.04% | 57.86% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.70 | $9.56 | |
| Soybean Meal | $8.61 | $9.39 | |
| 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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