Market Matters Blog
DTN Weekly DDG Price Slightly Lower Again on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended Feb. 23 was $267 per ton, down $1 on average from one week ago. Prices were steady to mixed again but lower on average. Given the weekly increase in plant production, there are enough DDG supplies to meet the needs of feeders. Soybean meal basis is also fading, and other competing feedstuffs are weaker as well.
The Energy Information Administration (EIA) at midweek showed overall domestic ethanol inventory increased 1.2% to 25.588 million barrels (bbl), the highest level since the first week of April 2022 and 0.4% more than 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 Feb. 23 was 1.13%. The value of DDG relative to soybean meal was 54.15%, and the cost per unit of protein for DDG was $9.89 compared to the cost per unit of protein for soybean meal at $10.38.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA offers are $3 metric ton (mt) higher this week as barge freight rates rallied at midweek while FOB NOLA offers steady for spot and Q2 positions. Offers for 40-foot containers to Southeast Asia are $10 to $15 mt lower this week at $390 mt."
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 | 2/23/2023 | 2/16/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $300 | $300 | $0 | |
| Wet | $165 | $165 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $295 | $295 | $0 | ||
| Wet | $155 | $160 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $250 | $250 | $0 | |
| Indiana | Dry | $245 | $242 | $3 | |
| Iowa | Dry | $260 | $260 | $0 | |
| Michigan | Dry | $240 | $240 | $0 | |
| Minnesota | Dry | $265 | $270 | -$5 | |
| New York | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $285 | $285 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $265 | $275 | -$10 | ||
| Wet | $95 | $98 | -$3 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $275 | $270 | $5 | |
| Iowa | Dry | $280 | $287 | -$7 | |
| Michigan | Dry | $265 | $265 | $0 | |
| Minnesota | Dry | $275 | $275 | $0 | |
| Missouri | Dry | $290 | $290 | $0 | |
| Ohio | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $285 | $290 | -$5 | |
| Nebraska | Dry | $295 | $295 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $285 | $295 | -$10 | |
| Wet* | $120 | $125 | -$5 | ||
| Illinois | Dry | $255 | $250 | $5 | |
| Nebraska | Dry | $285 | $295 | -$10 | |
| Wet* | $120 | $125 | -$5 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $250 | $250 | $0 | |
| Indiana | Dry | $245 | $245 | $0 | |
| Iowa | Dry | $260 | $260 | $0 | |
| Michigan | Dry | $250 | $250 | $0 | |
| Minnesota | Dry | $255 | $255 | $0 | |
| Nebraska | Dry | $295 | $295 | $0 | |
| New York | Dry | $280 | $280 | $0 | |
| North Dakota | Dry | $257 | $257 | $0 | |
| Ohio | Dry | $255 | $255 | $0 | |
| South Dakota | Dry | $275 | $275 | $0 | |
| Wisconsin | Dry | $240 | $240 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $235 | $240 | -$5 | ||
| Western Kansas | Dry | $265 | $265 | $0 | |
| Wet | $110 | $110 | $0 | ||
| **Weekly Average: | $267 | $268 | -$1 | ||
| (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 | 2/23/2023 | $6.6025 | $235.8036 |
| Soybean Meal | 2/23/2023 | $493.10 | |
| DDG Weekly Average Spot Price | 2/23/2023 | $267.00 | |
| DDG Value Relative to: | 2/23 | 2/16 | |
| Corn | 1.13% | 1.11% | |
| Soybean Meal | 54.15% | 54.54% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.89 | $9.93 | |
| Soybean Meal | $10.38 | $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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