Market Matters Blog
DTN Weekly DDG Price Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 34 locations reporting for the week ended Nov. 3 was $242 per ton, down $2 on average versus one week ago. DDG supplies continue to grow as plant production increased again last week, but feed demand is picking up which is good to keep supplies from becoming too burdensome.
The Energy Information Administration (EIA) Wednesday showed a fifth straight weekly increase in domestic ethanol production. Domestic ethanol production rose 7,000 barrels per day (bpd) to 1.04 million bpd as of Oct. 28, the highest since the final week of July but 6.1% below the same week in 2021. The four-week average production at 1.005 million bpd was 80,000 bpd lower than the corresponding four weeks last year. Midwest ethanol production also increased a fifth straight week, up 7,000 bpd to 981,000 bpd, the highest output rate for the producer region since the week ended July 29.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 4 was 1.00%. The value of DDG relative to soybean meal was 57.56%, and the cost per unit of protein for DDG was $8.96 compared to the cost per unit of protein for soybean meal at $8.85.
In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, Barge CIF NOLA prices are $11 higher for November shipment, erasing all of last week's declines as barge rates rally again. Offers for DDGS on barges for December and January are up $7 and $4 metric ton (mt), respectively. FOB NOLA offers are up $9 for November at $345/mt for 35% pro-fat and near $335-330/mt for 34 percent pro-fat. Offers for 40-foot containers to Asia are up $10-15 at $407/mt this week."
The USDA reported this week that U.S. exports of DDGS totaled 877,745 mt in September, down from 981,020 mt in August, but up 3% from a year ago. Mexico was the top destination in September, taking 21% of U.S. exports and was followed by Vietnam and South Korea. In the first nine months of 2022, U.S. exports of DDGS were up slightly from a year ago.
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 | 11/3/2022 | 10/27/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $275 | $280 | -$5 | |
| Wet | $155 | $155 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $280 | $280 | $0 | ||
| Wet | $150 | $150 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $225 | $230 | -$5 | |
| Indiana | Dry | $205 | $210 | -$5 | |
| Iowa | Dry | $230 | $235 | -$5 | |
| Michigan | Dry | $220 | $220 | $0 | |
| Minnesota | Dry | $220 | $220 | $0 | |
| New York | Dry | $265 | $265 | $0 | |
| South Dakota | Dry | $255 | $255 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $275 | $285 | -$10 | ||
| Wet | $98 | $101 | -$3 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $235 | $235 | $0 | |
| Iowa | Dry | $240 | $250 | -$10 | |
| Michigan | Dry | $240 | $240 | $0 | |
| Minnesota | Dry | $235 | $240 | -$5 | |
| Missouri | Dry | $250 | $250 | $0 | |
| Ohio | Dry | $235 | $235 | $0 | |
| South Dakota | Dry | $250 | $255 | -$5 | |
| Nebraska | Dry | $270 | $280 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $300 | $290 | $10 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| Illinois | Dry | $235 | $235 | $0 | |
| Nebraska | Dry | $300 | $290 | $10 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $220 | $220 | $0 | |
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $220 | $225 | -$5 | |
| Michigan | Dry | $220 | $220 | $0 | |
| Minnesota | Dry | $220 | $220 | $0 | |
| Nebraska | Dry | $260 | $260 | $0 | |
| New York | Dry | $250 | $250 | $0 | |
| North Dakota | Dry | $255 | $250 | $5 | |
| Ohio | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $230 | $250 | -$20 | |
| Wisconsin | Dry | $215 | $215 | $0 | |
| Western Kansas | Dry | $245 | $250 | -$5 | |
| Wet | $110 | $110 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $348 | $348 | $0 | |
| **Weekly Average: | $242 | $244 | $2 | ||
| (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 | 11/4/2022 | $6.8100 | $243.2143 |
| Soybean Meal | 11/4/2022 | $420.40 | |
| DDG Weekly Average Spot Price | $242.00 | ||
| DDG Value Relative to: | 11/4/2022 | 10/24/2022 | |
| Corn | 1.00% | 1.00% | |
| Soybean Meal | 57.56% | 58.74% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.96 | $9.04 | |
| Soybean Meal | $8.85 | $8.70 | |
| Notes: | |||
| Corn and soybean prices taken 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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