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 Feb. 9 was $269 per ton, down $2 on average from one week ago. Prices were mixed but lower on average. Until last week, plant production was steady, keeping supplies of DDG readily available. Once again, soybean meal prices have been high, and giving an edge to the cheaper DDG and other feedstuffs.
The Energy Information Administration (EIA) at midweek showed ethanol production in the U.S. declined for the first time in five weeks, falling 2.7% or 28,000 barrels per day (bpd) to 1 million bpd last week, 0.6% higher than the same week in 2022.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Feb. 9 was 1.12%. The value of DDG relative to soybean meal was 54.29%, and the cost per unit of protein for DDG was $9.96 compared to the cost per unit of protein for soybean meal at $10.43.
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In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA offers are down $4 to $5 metric ton (mt) this week while FOB NOLA offers are down $4 for spot positions and down $5 for April/May. Offers for 40-foot containers to Southeast Asia are down $8 to $9 mt this week at an average of $395."
The U.S. Census Bureau said Tuesday that U.S. exports of DDGS totaled 887,433 mt in December 2022, up from 728,409 mt in November 2022, but down 3% from a year ago. Mexico was the top destination in December, taking 19% of U.S. exports and was followed by South Korea, Colombia and Vietnam. For all of 2022, U.S. exports of DDGS were down 5% 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 | 2/9/2023 | 2/2/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $305 | $310 | -$5 | |
| Wet | $165 | $170 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $295 | $300 | -$5 | ||
| Wet | $160 | $165 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $245 | $245 | $0 | |
| Indiana | Dry | $240 | $240 | $0 | |
| Iowa | Dry | $260 | $262 | -$2 | |
| Michigan | Dry | $240 | $235 | $5 | |
| Minnesota | Dry | $270 | $265 | $5 | |
| New York | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $285 | $285 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $270 | $285 | -$15 | ||
| Wet | $105 | $100 | $5 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $270 | $270 | $0 | |
| Iowa | Dry | $295 | $295 | $0 | |
| Michigan | Dry | $265 | $265 | $0 | |
| Minnesota | Dry | $275 | $290 | -$15 | |
| Missouri | Dry | $295 | $290 | $5 | |
| Ohio | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $300 | $305 | -$5 | |
| Nebraska | Dry | $300 | $300 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $295 | $295 | $0 | |
| Wet* | $125 | $125 | $0 | ||
| Illinois | Dry | $250 | $250 | $0 | |
| Nebraska | Dry | $295 | $295 | $0 | |
| Wet* | $125 | $125 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $250 | $245 | $5 | |
| Indiana | Dry | $245 | $245 | $0 | |
| Iowa | Dry | $260 | $260 | $0 | |
| Michigan | Dry | $250 | $250 | $0 | |
| Minnesota | Dry | $255 | $255 | $0 | |
| Nebraska | Dry | $295 | $300 | -$5 | |
| New York | Dry | $280 | $280 | $0 | |
| North Dakota | Dry | $256 | $265 | -$9 | |
| Ohio | Dry | $255 | $260 | -$5 | |
| South Dakota | Dry | $280 | $285 | -$5 | |
| Wisconsin | Dry | $240 | $235 | $5 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $235 | $240 | -$5 | ||
| Western Kansas | Dry | $265 | $265 | $0 | |
| Wet | $110 | $110 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | ||||
| **Weekly Average: | $269 | $271 | -$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 | 2/9/2023 | $6.7075 | $239.5536 |
| Soybean Meal | 2/9/2023 | $495.50 | |
| DDG Weekly Average Spot Price | 2/9/2023 | $269.00 | |
| DDG Value Relative to: | 2/9 | 2/2 | |
| Corn | 1.12% | 1.12% | |
| Soybean Meal | 54.29% | 55.10% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.96 | $10.04 | |
| Soybean Meal | $10.43 | $10.35 | |
| 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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