Market Matters Blog
DTN Weekly DDG Price Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended Nov. 17 was $234 per ton, down $2 on average versus one week ago. The drop in cash corn prices again added to the pressure on DDG prices over the week, along with the availability of more product to sell after production increased the six weeks prior to last week's drop.
The Energy Information Administration (EIA) Wednesday showed plant production dropped for the first time in seven weeks and demand ticked higher. EIA reported ethanol production in the U.S. tumbled 40,000 barrels per day (bpd) or 3.8% to a five-week low 1.011 million bpd last week, 4.6% below the same week a year ago. Four-week average production at 1.034 million bpd was 44,000 bpd lower than the corresponding four weeks in 2021. Midwest ethanol production was also lower for the first time in seven weeks, falling 38,000 bpd or 3.8% to 954,000 bpd, a five-week low.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 17 was 0.98%. The value of DDG relative to soybean meal was 57.68%, and the cost per unit of protein for DDG was $8.67 compared to the cost per unit of protein for soybean meal at $8.54.
In its weekly DDGS export update, the U.S. Grains Council said: "Some increase in Mississippi water flows helped lower barge CIF NOLA rates. Plus, there is the benefit of slightly lower U.S. rail rates. Quotes for DDGS delivered Japan were also slightly lower but there were increases in the offers made going into Southeast Asia."
There will be no price update the week of Thanksgiving.
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 | 11/18/2022 | 11/10/2022 | ||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
Missouri | Dry | $265 | $273 | -$8 | |
Wet | $155 | $155 | $0 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Dry | $250 | $250 | $0 | ||
Wet | $135 | $135 | $0 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $225 | $225 | $0 | |
Indiana | Dry | $205 | $205 | $0 | |
Iowa | Dry | $220 | $225 | -$5 | |
Michigan | Dry | $218 | $220 | -$2 | |
Minnesota | Dry | $210 | $215 | -$5 | |
New York | Dry | $255 | $250 | $5 | |
South Dakota | Dry | $240 | $250 | -$10 | |
MGP Ingredients, Atchison, KS (800-255-0302) | |||||
Dry | $275 | $255 | $20 | ||
Wet | $95 | $95 | $0 | ||
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $230 | $230 | $0 | |
Iowa | Dry | $240 | $240 | $0 | |
Michigan | Dry | $225 | $225 | $0 | |
Minnesota | Dry | $230 | $230 | $0 | |
Missouri | Dry | $250 | $250 | $0 | |
Ohio | Dry | $225 | $225 | $0 | |
South Dakota | Dry | $250 | $250 | $0 | |
Nebraska | Dry | $265 | $265 | $0 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $290 | $290 | $0 | |
Call for Available | Wet* | $0 | $0 | $0 | |
Illinois | Dry | $230 | $230 | $0 | |
Nebraska | Dry | $290 | $290 | $0 | |
Call for Available | Wet* | $0 | $0 | $0 | |
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $215 | $220 | -$5 | |
Indiana | Dry | $200 | $210 | -$10 | |
Iowa | Dry | $205 | $215 | -$10 | |
Michigan | Dry | $215 | $220 | -$5 | |
Minnesota | Dry | $210 | $215 | -$5 | |
Nebraska | Dry | $250 | $255 | -$5 | |
New York | Dry | $250 | $250 | $0 | |
North Dakota | Dry | $250 | $255 | -$5 | |
Ohio | Dry | $220 | $225 | -$5 | |
South Dakota | Dry | $220 | $230 | -$10 | |
Wisconsin | Dry | $205 | $210 | -$5 | |
Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
Dry | $220 | $220 | $0 | ||
Western Kansas | Dry | $265 | $245 | $20 | |
Wet | $110 | $110 | $0 | ||
Western Milling, Goshen, California (559-302-1074) | |||||
California | Dry | $347 | $347 | $0 | |
**Weekly Average: | $234 | $236 | -$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 | 11/17/2022 | $6.6750 | $238.3929 |
Soybean Meal | 11/17/2022 | $405.70 | |
DDG Weekly Average Spot Price | $234.00 | ||
DDG Value Relative to: | 11/17/2022 | 11/10/22 | |
Corn | 0.98% | 1.02% | |
Soybean Meal | 57.68% | 58.65% | |
Cost Per Unit of Protein: | |||
DDG | $8.67 | $8.78 | |
Soybean Meal | $8.54 | $8.51 | |
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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