Market Matters Blog

MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended March 2 was $264 per ton, down $3 on average from one week ago. Prices were steady to mixed but lower on average. The corn market has fallen apart since one week ago, which put pressure on DDG prices. The DTN National Corn Index is down 29 cents versus one week ago.

The Energy Information Administration (EIA) at midweek showed total domestic ethanol production slid 26,000 barrels per day (bpd) or 2.5% last week to 1.003 million bpd, 0.6% higher than the same week in 2022. In the Midwest PADD 2, ethanol production fell for the first time in three weeks, down 26,000 bpd or 2.6% to 958,000 bpd. Output in the week ended Feb. 24 was 1.8% more than a year earlier.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended March 2 was 1.16%. The value of DDG relative to soybean meal was 53.95%, and the cost per unit of protein for DDG was $9.78 compared to the cost per unit of protein for soybean meal at $10.30.

In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA offers are $7 to $8 lower this week, while FOB NOLA offers are lower for both spot and deferred positions. Offers for 40-foot containers to Southeast Asia are $1 to $2 higher for spot March but $2.50 lower for the deferred."

NOTE: All prices listed below can change at any time and are subject to confirmation from seller.

Mary Kennedy can be reached at mary.kennedy@dtn.com

Follow her on Twitter @MaryCKenn

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