Market Matters Blog
DTN Weekly DDG Price Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended May 11 was $242 per ton, down $6 from one week ago. Prices were mixed but lower again on average due in part to the lower cash corn price and weakness overall in other feed products.
The Energy Information Administration (EIA) at midweek showed overall ethanol production in the United States averaged 965,000 barrels per day (bpd) through May 5, down 11,000 bpd week-on-week and 26,000 bpd, or 2.7%, lower than in the same week last year. Four-week average output at 983,000 bpd was 16,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 912,000 bpd, down 10,000 bpd week-on-week and 29,000 bpd, or 3.2% lower than in the same week last year. Four-week average output at 931,000 bpd was 19,000 bpd above the same four weeks in 2022.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended May 11 was 1.07%. The value of DDG relative to soybean meal was 56.73 and the cost per unit of protein for DDG was $8.96 compared to the cost per unit of protein for soybean meal at $8.98. (Futures used in the table are still based the May).
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA values turned higher this week with offers for June rising $8 metric ton (mt) to $281 while FOB NOLA offers are up $5 for June at $293/MT. Offers for July and August positions are up $10-$12 mt in the FOB market. Offers for 40-foot containers to southeast Asia are up $5 mt at $371 with increases in values for product on the river system offsetting declines in freight rates."
Lock and Dam closures update on the Mississippi River as of May 11: Lock & Dam 16(RM 457) Illinois City, Illinois, closed due to high water; anticipated reopening 5/12). Lock & Dam 17 (RM 437) New Boston, Illinois, closed due to high water; anticipated reopening 5/12.
NWS flood map: https://www.weather.gov/…
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 | 5/11/2023 | 5/4/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $245 | $245 | $0 | |
| Wet | $150 | $150 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $245 | $247 | -$2 | ||
| Wet | $135 | $140 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $220 | $225 | -$5 | |
| Indiana | Dry | $230 | $230 | $0 | |
| Iowa | Dry | $230 | $235 | -$5 | |
| Michigan | Dry | $240 | $240 | $0 | |
| Minnesota | Dry | $220 | $225 | -$5 | |
| New York | Dry | $270 | $270 | $0 | |
| South Dakota | Dry | $235 | $240 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $238 | $245 | -$7 | ||
| Wet | $90 | $92 | -$2 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $255 | $255 | $0 | |
| Iowa | Dry | $255 | $260 | -$5 | |
| Michigan | Dry | $260 | $260 | $0 | |
| Minnesota | Dry | $250 | $260 | -$10 | |
| Missouri | Dry | $265 | $280 | -$15 | |
| Ohio | Dry | $250 | $250 | $0 | |
| South Dakota | Dry | $250 | $265 | -$15 | |
| Nebraska | Dry | $265 | $265 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $275 | $275 | $0 | |
| Wet* | $115 | $115 | $0 | ||
| Illinois JUNE | Dry | $242 | $242 | $0 | |
| Nebraska | Dry | $275 | $275 | $0 | |
| Wet* | $115 | $115 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $235 | $245 | -$10 | |
| Indiana | Dry | $230 | $245 | -$15 | |
| Iowa | Dry | $225 | $235 | -$10 | |
| Michigan | Dry | $235 | $245 | -$10 | |
| Minnesota | Dry | $230 | $240 | -$10 | |
| Nebraska | Dry | $250 | $255 | -$5 | |
| New York | Dry | $270 | $275 | -$5 | |
| North Dakota | Dry | $230 | $240 | -$10 | |
| Ohio | Dry | $240 | $250 | -$10 | |
| South Dakota | Dry | $230 | $235 | -$5 | |
| Wisconsin | Dry | $210 | $240 | -$30 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $230 | $235 | -$5 | ||
| Western Kansas | Dry | $265 | $265 | $0 | |
| Wet | $100 | $100 | $0 | ||
| **Weekly Average: | $242 | $248 | -$6 | ||
| (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 | 5/11/2023 | $6.3250 | $225.8929 |
| Soybean Meal | 5/11/2023 | $426.60 | |
| DDG Weekly Average Spot Price | 5/11/2023 | $242.00 | |
| DDG Value Relative to: | 5/11 | 5/4 | |
| Corn | 1.07% | 1.07% | |
| Soybean Meal | 56.73% | 58.04% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.96 | $9.19 | |
| Soybean Meal | $8.98 | $9.00 | |
| 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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