Market Matters Blog
DTN Weekly DDG Price Lower Again on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended May 25 was $221 per ton, down $7 from one week ago. Prices continue to decline with the weakness in soybean meal adding pressure, along with slower demand.
The Energy Information Administration (EIA) at midweek showed overall ethanol production in the United States averaged 983,000 barrels per day (bpd) as of May 19, down 4,000 bpd week-on-week and 31,000 bpd, or 3.2% lower than the same week last year. Four-week average output at 978,000 bpd was 13,000 bpd below the same four weeks in 2022. Midwest ethanol production averaged 931,000 bpd, down 1,000 bpd week-on-week and 29,000 bpd, or 3.1% lower than last year. Four-week average output at 924,000 bpd was 13,000 bpd below the same four weeks in 2022.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended May 25 was 1.05%. The value of DDG relative to soybean meal was 55.64 and the cost per unit of protein for DDG was $8.19 compared to the cost per unit of protein for soybean meal at $8.36.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA values dropped again this week with offers for June falling $4 metric ton (mt) to $271 while FOB NOLA offers are down $8 for June at $276 mt. U.S. rail rates are down $4 to $6 mt this week with offers for product delivered to the PNW, California, and Laredo, Texas pushing lower while FOB Lethbridge, Alberta offers are up $3 mt for June. Offers for 40-foot containers to southeast Asia are down another $6 mt this week at $360 amid less costly freight rates and more competitive DDGS offers."
NOTE: All prices listed below can change at any time and are subject to confirmation from sellers.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||
| COMPANY | STATE | 5/25/2023 | 5/18/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $245 | $243 | $2 | |
| Wet | $150 | $148 | $2 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $245 | $245 | $0 | ||
| Wet | $125 | $135 | -$10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $210 | $215 | -$5 | |
| Indiana | Dry | $210 | $220 | -$10 | |
| Iowa | Dry | $218 | $220 | -$2 | |
| Michigan | Dry | $205 | $230 | -$25 | |
| Minnesota | Dry | $210 | $215 | -$5 | |
| New York | Dry | $235 | $255 | -$20 | |
| South Dakota | Dry | $220 | $215 | $5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $228 | $232 | -$4 | ||
| Wet | $80 | $80 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $245 | $255 | -$10 | |
| Iowa | Dry | $240 | $250 | -$10 | |
| Michigan | Dry | $250 | $260 | -$10 | |
| Minnesota | Dry | $240 | $245 | -$5 | |
| Missouri | Dry | $245 | $255 | -$10 | |
| Ohio | Dry | $240 | $250 | -$10 | |
| South Dakota | Dry | $245 | $250 | -$5 | |
| Nebraska | Dry | $255 | $260 | -$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 | $215 | $225 | -$10 | |
| Indiana | Dry | $210 | $220 | -$10 | |
| Iowa | Dry | $200 | $210 | -$10 | |
| Michigan | Dry | $215 | $225 | -$10 | |
| Minnesota | Dry | $200 | $215 | -$15 | |
| Nebraska | Dry | $235 | $245 | -$10 | |
| New York | Dry | $260 | $270 | -$10 | |
| North Dakota | Dry | $210 | $220 | -$10 | |
| Ohio | Dry | $225 | $230 | -$5 | |
| South Dakota | Dry | $210 | $225 | -$15 | |
| Wisconsin | Dry | $200 | $205 | -$5 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $205 | $215 | -$10 | ||
| Western Kansas | Dry | $260 | $260 | $0 | |
| Wet | $100 | $100 | $0 | ||
| **Weekly Average: | $221 | $228 | -$7 | ||
| (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 | 5/25/2023 | $5.9075 | $210.9822 |
| Soybean Meal | 5/25/2023 | $397.20 | |
| DDG Weekly Average Spot Price | 5/25/2023 | $221.00 | |
| DDG Value Relative to: | 5/25 | 5/18 | |
| Corn | 1.05% | 1.15% | |
| Soybean Meal | 55.64% | 55.06% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.19 | $8.44 | |
| Soybean Meal | $8.36 | $8.72 | |
| 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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