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 April 20 was down $2 on average from 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 April 20 was $257 per ton, down $2 from one week ago. Prices were mixed but lower on average due in part to plants coming back online from spring maintenance and adding DDG supplies back into the market. The cash corn price remained steady versus one week ago, with the DTN National Corn Index at even money to April 13 price.

The Energy Information Administration (EIA) at midweek showed overall ethanol production in the U.S. moved off a 13-week low, up 65,000 barrels per day (bpd) to an eight-week high of 1.024 million bpd last week, 8.1% more than a year ago. The four-week average output at 997,000 bpd was 2,000 bpd above the same four weeks in 2022. Midwest PADD 2 ethanol production also moved off a roughly three-month low, up 62,000 bpd or 6.8% to an eight-week high 974,000 bpd. The four-week average output in PADD 2 at 950,000 bpd was 12,000 bpd higher than the same time last year.

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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Apr 20 was 1.08%. The value of DDG relative to soybean meal was 56.95 and the cost per unit of protein for DDG was $9.52 compared to the cost per unit of protein for soybean meal at $9.50.

In its weekly DDGS export update, the U.S. Grains Council said: "Weaker barge rates and pressure on interior DDGS values is pressuring DDGS export prices this week. Barge CIF NOLA offers are down $3 metric tons (mt) for spot positions while June/July offers are down $4 to $5 mt. FOB NOLA offers are down $1 for spot shipment but up $2 mt for June and July while offers for 40-foot containers to Southeast Asia are down $13 mt at $386 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 4/20/2023 4/13/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $260 $265 -$5
Wet $155 $155 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $260 $265 -$5
Wet $155 $150 $5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $245 $248 -$3
Indiana Dry $245 $245 $0
Iowa Dry $250 $250 $0
Michigan Dry $250 $255 -$5
Minnesota Dry $245 $250 -$5
New York Dry $270 $270 $0
South Dakota Dry $255 $255 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $250 $257 -$7
Wet $95 $92 $3
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $270 $275 -$5
Iowa Dry $265 $270 -$5
Michigan Dry $275 $285 -$10
Minnesota Dry $265 $265 $0
Missouri Dry $280 $280 $0
Ohio Dry $265 $265 $0
South Dakota Dry $265 $265 $0
Nebraska Dry $275 $275 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $275 $275 $0
Wet* $115 $115 $0
Illinois OUT APRIL Dry $248 $248 $0
Nebraska Dry $275 $275 $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 $245 $245 $0
Nebraska Dry $260 $260 $0
New York Dry $280 $280 $0
North Dakota Dry $255 $255 $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 $245 $240 $5
Western Kansas Dry $265 $265 $0
Wet $100 $100 $0
**Weekly Average: $257 $259 -$2
(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 4/20/2023 $6.6375 $237.0536
Soybean Meal 4/20/2023 $451.30
DDG Weekly Average Spot Price 4/20/2023 $257.00
DDG Value Relative to: 4/20 4/13
Corn 1.08% 1.11%
Soybean Meal 56.95% 55.87%
Cost Per Unit of Protein:
DDG $9.52 $9.59
Soybean Meal $9.50 $9.76
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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