Market Matters Blog

DTN Weekly DDG Price Lower on Average

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains for the week ended March 2 was $3 lower on average than one week ago. (DTN file photo)

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.

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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.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 3/2/2023 2/23/2023
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 $155 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $245 $250 -$5
Indiana Dry $240 $245 -$5
Iowa Dry $250 $260 -$10
Michigan Dry $240 $240 $0
Minnesota Dry $255 $265 -$10
New York Dry $270 $270 $0
South Dakota Dry $265 $285 -$20
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $265 $265 $0
Wet $95 $95 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $275 $275 $0
Iowa Dry $275 $280 -$5
Michigan Dry $265 $265 $0
Minnesota Dry $270 $275 -$5
Missouri Dry $285 $290 -$5
Ohio Dry $270 $270 $0
South Dakota Dry $278 $285 -$7
Nebraska Dry $290 $295 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $285 $285 $0
Wet* $120 $120 $0
Illinois Dry $255 $255 $0
Nebraska Dry $285 $285 $0
Wet* $120 $120 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $250 $250 $0
Indiana Dry $245 $245 $0
Iowa Dry $255 $260 -$5
Michigan Dry $250 $250 $0
Minnesota Dry $250 $255 -$5
Nebraska Dry $285 $295 -$10
New York Dry $280 $280 $0
North Dakota Dry $260 $257 $3
Ohio Dry $255 $255 $0
South Dakota Dry $260 $275 -$15
Wisconsin Dry $245 $240 $5
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $235 $235 $0
Western Kansas Dry $265 $265 $0
Wet $110 $110 $0
**Weekly Average: $264 $267 -$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 3/2/2023 $6.3775 $227.7679
Soybean Meal 3/2/2023 $489.30
DDG Weekly Average Spot Price 3/2/2023 $264.00
DDG Value Relative to: 3/2 2/23
Corn 1.16% 1.13%
Soybean Meal 53.95% 54.15%
Cost Per Unit of Protein:
DDG $9.78 $9.89
Soybean Meal $10.30 $10.38
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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