Market Matters Blog
DTN Weekly DDG Price Slightly Higher on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended March 30 was $258 per ton, up $1 from one week ago. Prices were mostly steady but slightly higher on average as the strength in the cash corn price and a recovery in soybean meal supported prices. The cash corn price rallied from one week ago and the DTN National Corn Index is up 18 cents versus last week.
The Energy Information Administration (EIA) at midweek showed overall ethanol production in the United States gained 6,000 barrels per day (bpd) to 1.003 million bpd last week, 3.2% lower than a year ago. Four-week average output at 1.006 million bpd was 27,000 bpd lower than the same four weeks in 2022. Midwest PADD 2 ethanol production rose 2,000 bpd on the week to 956,000 bpd, 2.6% below a year ago.
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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 30 was 1.11%. The value of DDG relative to soybean meal was 56.10%, and the cost per unit of protein for DDG was $9.56 compared to the cost per unit of protein for soybean meal at $9.68.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA offers are $5 to $7 metric ton (mt) lower for Q2 positions this week as strong barge freight values soften alongside lower interior market offers. FOB NOLA offers are $1 mt lower for Q2 positions and average $338 mt for April. This week's offers for 40-foot containers to Southeast Asia are $7 to $8 mt lower amid a pullback in ocean freight values and average $392 for Q2 shipment."
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 3/30/2023 | 3/23/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $280 | $285 | -$5 | |
| Wet | $165 | $165 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $265 | $265 | $0 | ||
| Wet | $150 | $150 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $250 | $245 | $5 | |
| Indiana | Dry | $245 | $245 | $0 | |
| Iowa | Dry | $250 | $250 | $0 | |
| Michigan | Dry | $245 | $242 | $3 | |
| Minnesota | Dry | $245 | $240 | $5 | |
| New York | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $250 | $250 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $255 | $255 | $0 | ||
| Wet | $95 | $95 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $265 | $265 | $0 | |
| Iowa | Dry | $265 | $265 | $0 | |
| Michigan | Dry | $260 | $260 | $0 | |
| Minnesota | Dry | $265 | $265 | $0 | |
| Missouri | Dry | $275 | $275 | $0 | |
| Ohio | Dry | $260 | $260 | $0 | |
| South Dakota | Dry | $270 | $270 | $0 | |
| Nebraska | Dry | $275 | $275 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $285 | $285 | $0 | |
| Wet* | $115 | $120 | -$5 | ||
| Illinois OUT APRIL | Dry | $250 | $250 | $0 | |
| Nebraska | Dry | $285 | $285 | $0 | |
| Wet* | $115 | $120 | -$5 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $250 | $250 | $0 | |
| Indiana | Dry | $245 | $245 | $0 | |
| Iowa | Dry | $240 | $240 | $0 | |
| Michigan | Dry | $250 | $250 | $0 | |
| Minnesota | Dry | $240 | $240 | $0 | |
| Nebraska | Dry | $265 | $265 | $0 | |
| New York | Dry | $280 | $280 | $0 | |
| North Dakota | Dry | $260 | $260 | $0 | |
| Ohio | Dry | $250 | $250 | $0 | |
| South Dakota | Dry | $255 | $255 | $0 | |
| Wisconsin | Dry | $245 | $245 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $235 | $235 | $0 | ||
| Western Kansas SUBJ | Dry | $265 | $265 | $0 | |
| Wet | $100 | $100 | $0 | ||
| **Weekly Average: | $258 | $257 | $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 | 3/30/2023 | $6.4950 | $231.9643 |
| Soybean Meal | 3/30/2023 | $459.90 | |
| DDG Weekly Average Spot Price | 3/30/2023 | $258.00 | |
| DDG Value Relative to: | 3/30 | 3/23 | |
| Corn | 1.11% | 1.14% | |
| Soybean Meal | 56.10% | 58.64% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.56 | $9.52 | |
| Soybean Meal | $9.68 | $9.23 | |
| 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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