Market Matters Blog
DTN Weekly DDG Price Turns Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended Jan. 26 was $273 per ton, down $3 on average from one week ago. Prices were mixed again this week but lower on average for the first time in well over a month. Demand has slowed for spot supplies even as soybean meal prices continue to push higher, and corn basis and futures remain strong. As plant production increased again, DDG supplies remain readily available in most areas.
The Energy Information Administration (EIA) at midweek showed a third straight weekly gain in domestic ethanol production for the week ended Jan. 20, up 4,000 barrels per day (bpd) to a five-week high 1.012 million bpd, 2.2% below a year ago. Output in the Midwest PADD 2 rose 5,000 bpd to 963,000 bpd, also a five-week high while down 1.6% versus the same week in 2022.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Jan. 26 was 1.12%. The value of DDG relative to soybean meal was 57.22%, and the cost per unit of protein for DDG was $10.11 compared to the cost per unit of protein for soybean meal at $10.04.
In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, Barge CIF NOLA prices are $1/MT lower and are averaging $333/MT for February through April shipment. FOB NOLA offers are down $1-2/MT this week at $337-338/MT while U.S. rail rates have contracted $14. Finally, softer ocean freight markets continue to allow offers for 40-foot containers to Southeast Asia to move lower. The average offer for Q2 shipment is down $1/MT at $395 this week."
NOTE: All prices listed below can change at any time and are subject to confirmation from the seller.
ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | |||
COMPANY | STATE | 1/26/2023 | 1/19/2023 | |||
Bartlett and Company, Kansas City, MO (816 714 3413) | ||||||
Missouri | Dry | $310 | $315 | -$5 | ||
Wet | $170 | $170 | $0 | |||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | ||||||
Dry | $310 | $320 | -$10 | |||
Wet | $175 | $180 | -$5 | |||
CHS, Minneapolis, MN (800-769-1066) | ||||||
Illinois | Dry | $245 | $245 | $0 | ||
Indiana | Dry | $240 | $240 | $0 | ||
Iowa | Dry | $268 | $268 | $0 | ||
Michigan | Dry | $230 | $230 | $0 | ||
Minnesota | Dry | $265 | $270 | -$5 | ||
New York | Dry | $265 | $265 | $0 | ||
South Dakota | Dry | $315 | $325 | -$10 | ||
MGP Ingredients, Atchison, KS (800-255-0302) | ||||||
Dry | $275 | $285 | -$10 | |||
Wet | $95 | $90 | $5 | |||
POET Nutrition, Sioux Falls, SD (888-327-8799) | ||||||
Indiana | Dry | $275 | $275 | $0 | ||
Iowa | Dry | $297 | $305 | -$8 | ||
Michigan | Dry | $265 | $265 | $0 | ||
Minnesota | Dry | $290 | $305 | -$15 | ||
Missouri | Dry | $295 | $300 | -$5 | ||
Ohio | Dry | $275 | $275 | $0 | ||
South Dakota | Dry | $305 | $310 | -$5 | ||
Nebraska | Dry | $305 | $310 | -$5 | ||
United BioEnergy, Wichita, KS (316-616-3521) | ||||||
Kansas | Dry | $300 | $300 | $0 | ||
Call for Available | Wet* | $0 | $0 | $0 | ||
Illinois | Dry | $250 | $250 | $0 | ||
Nebraska | Dry | $300 | $300 | $0 | ||
Call for Available | Wet* | $0 | $0 | $0 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | ||||||
Illinois | Dry | $245 | $240 | $5 | ||
Indiana | Dry | $245 | $245 | $0 | ||
Iowa | Dry | $260 | $260 | $0 | ||
Michigan | Dry | $250 | $250 | $0 | ||
Minnesota | Dry | $260 | $260 | $0 | ||
Nebraska | Dry | $300 | $300 | $0 | ||
New York | Dry | $280 | $280 | $0 | ||
North Dakota | Dry | $270 | $270 | $0 | ||
Ohio | Dry | $265 | $265 | $0 | ||
South Dakota | Dry | $295 | $300 | -$5 | ||
Wisconsin | Dry | $230 | $230 | $0 | ||
Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | ||||||
Dry | $240 | $240 | $0 | |||
Western Kansas | Dry | $270 | $275 | -$5 | ||
Wet | $110 | $110 | $0 | |||
Western Milling, Goshen, California (559-302-1074) | ||||||
California | Dry | |||||
**Weekly Average: | $273 | $276 | -$3 | |||
(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 | 1/26/2023 | $6.8250 | $243.7500 |
Soybean Meal | 1/26/2023 | $477.10 | |
DDG Weekly Average Spot Price | 1/26/2023 | $273.00 | |
DDG Value Relative to: | 1/26/2023 | 1/19/2023 | |
Corn | 1.12% | 1.14% | |
Soybean Meal | 57.22% | 58.57% | |
Cost Per Unit of Protein: | |||
DDG | $10.11 | $10.22 | |
Soybean Meal | $10.04 | $9.92 | |
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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