Market Matters Blog
DTN Weekly DDG Price Steady on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended April 6 was $258 per ton, unchanged from one week ago. Prices were mixed but steady on average. The cash corn price has remained firm overall, with the DTN National Corn Index up 5 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 April 6 was 1.12%. The value of DDG relative to soybean meal was 56.79%, and the cost per unit of protein for DDG was $9.56 compared to the cost per unit of protein for soybean meal at $9.56.
In its weekly DDGS export update, the U.S. Grains Council said: "Brokers report that supply pipelines to the river and export markets remain "stretched" this week with slower barge movement. Barge CIF NOLA offers are $7 to $8 metric ton (mt) higher for Q2 positions -- erasing all of last week's losses -- as the market works to pull additional product down to the Gulf. FOB NOLA offers are $2 mt higher for April shipment and $2 to $3 mt lower for May/June shipment with spot offers averaging $340 mt. Offers for 40-foot containers to Southeast Asia are $4 to $5 mt lower for Q2 shipment despite this week's uptick in ocean freight rates."
The U.S. Census Bureau noted in their byproduct export report this week that U.S. exports of DDGS totaled 764,344 mt in February, down from 770,344 mt in January and down 12% from a year ago. Mexico was the top destination in February, taking 22% of U.S. exports and was followed by South Korea and Thailand. In the first two months of 2023, exports of DDGS were down 22% 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 | 4/6/2023 | 3/30/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $275 | $280 | -$5 | |
| Wet | $155 | $160 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $270 | $265 | $5 | ||
| Wet | $155 | $150 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $248 | $250 | -$2 | |
| Indiana | Dry | $245 | $245 | $0 | |
| Iowa | Dry | $250 | $250 | $0 | |
| Michigan | Dry | $245 | $245 | $0 | |
| Minnesota | Dry | $245 | $245 | $0 | |
| New York | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $255 | $250 | $5 | |
| 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 | $270 | $265 | $5 | |
| Iowa | Dry | $265 | $265 | $0 | |
| Michigan | Dry | $275 | $260 | $15 | |
| 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 | $115 | $0 | ||
| Illinois OUT APRIL | Dry | $250 | $250 | $0 | |
| Nebraska | Dry | $285 | $285 | $0 | |
| Wet* | $115 | $115 | $0 | ||
| 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 | $255 | $260 | -$5 | |
| 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 | $240 | $235 | $5 | ||
| Western Kansas SUBJ | Dry | $265 | $265 | $0 | |
| Wet | $100 | $100 | $0 | ||
| **Weekly Average: | $258 | $258 | $0 | ||
| (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 | 4/6/2023 | $6.4350 | $229.8215 |
| Soybean Meal | 4/6/2023 | $454.30 | |
| DDG Weekly Average Spot Price | 4/6/2023 | $258.00 | |
| DDG Value Relative to: | 4/6 | 3/30 | |
| Corn | 1.12% | 1.11% | |
| Soybean Meal | 56.79% | 56.10% | |
| Cost Per Unit of Protein: | |||
| DDG | $9.56 | $9.56 | |
| Soybean Meal | $9.56 | $9.68 | |
| 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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