Market Matters Blog
DTN Weekly Average DDG Price Tumbles
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended May 18 was $228 per ton, down $14 from one week ago. Prices have been on a steady decline as the cash price of corn has been dropping. The DTN National Corn Index is down 40 cents versus one week ago. An uptick in ethanol plant production also weighed on prices as supplies have increased.
The Energy Information Administration (EIA) at midweek showed overall ethanol production in the U.S. averaged 987,000 barrels per day (bpd), up 22,000 bpd through May 12 -- 4,000 bpd or 0.4% lower than in the same week last year. The four-week average output at 974,000 bpd was 4,000 bpd below the same four weeks in 2022. Midwest ethanol production averaged 932,000 bpd, up 20,000 bpd week on week and 1,000 bpd or 0.1% higher than in the same week last year. Four-week average output at 921,000 bpd was 1,000 bpd below 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 18 was 1.15%. The value of DDG relative to soybean meal was 55.06 and the cost per unit of protein for DDG was $8.44 compared to the cost per unit of protein for soybean meal at $8.72.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA values dropped this week with offers for June falling $12 metric ton (mt) to $275 while FOB NOLA offers are down $10 for June at $284 mt. Offers for 40-foot containers to southeast Asia are down $6 mt at $366 with weaker freight prices and DDGS values keeping product competitive on international markets."
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 | 5/18/2023 | 5/11/2023 | ||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
Missouri | Dry | $243 | $245 | -$2 | |
Wet | $148 | $150 | -$2 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Dry | $245 | $245 | $0 | ||
Wet | $135 | $135 | $0 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $215 | $220 | -$5 | |
Indiana | Dry | $220 | $230 | -$10 | |
Iowa | Dry | $220 | $230 | -$10 | |
Michigan | Dry | $230 | $240 | -$10 | |
Minnesota | Dry | $215 | $220 | -$5 | |
New York | Dry | $255 | $270 | -$15 | |
South Dakota | Dry | $215 | $235 | -$20 | |
MGP Ingredients, Atchison, KS (800-255-0302) | |||||
Dry | $232 | $238 | -$6 | ||
Wet | $80 | $90 | -$10 | ||
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $255 | $255 | $0 | |
Iowa | Dry | $250 | $255 | -$5 | |
Michigan | Dry | $260 | $260 | $0 | |
Minnesota | Dry | $245 | $250 | -$5 | |
Missouri | Dry | $255 | $265 | -$10 | |
Ohio | Dry | $250 | $250 | $0 | |
South Dakota | Dry | $250 | $250 | $0 | |
Nebraska | Dry | $260 | $265 | -$5 | |
United BioEnergy, Wichita, KS (316-616-3521) | |||||
Kansas | Dry | $275 | $275 | $0 | |
Wet* | $115 | $115 | $0 | ||
Ill SOLD OUT JUNE | Dry | $0 | $0 | $0 | |
Nebraska | Dry | $275 | $275 | $0 | |
Wet* | $115 | $115 | $0 | ||
U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
Illinois | Dry | $225 | $235 | -$10 | |
Indiana | Dry | $220 | $230 | -$10 | |
Iowa | Dry | $210 | $225 | -$15 | |
Michigan | Dry | $225 | $235 | -$10 | |
Minnesota | Dry | $215 | $230 | -$15 | |
Nebraska | Dry | $245 | $250 | -$5 | |
New York | Dry | $270 | $270 | $0 | |
North Dakota | Dry | $220 | $230 | -$10 | |
Ohio | Dry | $230 | $240 | -$10 | |
South Dakota | Dry | $225 | $230 | -$5 | |
Wisconsin | Dry | $205 | $210 | -$5 | |
Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
Dry | $215 | $230 | -$15 | ||
Western Kansas | Dry | $260 | $265 | -$5 | |
Wet | $100 | $100 | $0 | ||
**Weekly Average: | $228 | $242 | -$14 | ||
(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 | 5/18/2023 | $5.5525 | $198.3036 |
Soybean Meal | 5/18/2023 | $414.10 | |
DDG Weekly Average Spot Price | 5/18/2023 | $228.00 | |
DDG Value Relative to: | 5/18 | 5/11 | |
Corn | 1.15% | 1.07% | |
Soybean Meal | 55.06% | 56.73% | |
Cost Per Unit of Protein: | |||
DDG | $8.44 | $8.96 | |
Soybean Meal | $8.72 | $8.98 | |
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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