Market Matters Blog
DTN Weekly DDG Price Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended June 1 was $217 per ton, down $4 on average from one week ago. Demand has slowed and is pressuring spot prices, and weakness in soybean meal is also adding pressure. An uptick in plant production is keeping the supply chain full as well.
The Energy Information Administration (EIA) at midweek showed domestic plant production topped 1 million barrels per day (bpd) for the first time in six weeks while blending demand slipped, delayed Energy Information Administration data released Thursday shows. U.S. ethanol output increased 21,000 bpd or 2.1% to 1.004 million bpd in the lead-up to the Memorial Day weekend after five weeks of production holding below 1 million bpd amid seasonal plant maintenance. Plant production was a sizable 67,000 bpd or 6.3% below the comparable week a year ago, EIA data shows.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 1 was 1.03%. The value of DDG relative to soybean meal was 54.06 and the cost per unit of protein for DDG was $8.04 compared to the cost per unit of protein for soybean meal at $8.45.
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 $10 per metric ton (mt) to $261 while FOB NOLA offers are down $5 for June at $271/mt. U.S. rail rates are down $4/mt this week with offers for product delivered to the PNW, California, and Laredo, Texas, steady/firmer while KC railyard and Elwood, Illinois, railyard offers are down $8-$12/mt. Offers for 40-foot containers to southeast Asia are down $11/mt this week at $349 amid steady/lower freight rates and increasingly competitive DDGS values."
NOTE: All prices listed below can change at any time and are subject to confirmation from sellers.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 6/1/2023 | 5/25/2023 | ||
| 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 | $225 | $245 | -$20 | ||
| Wet | $115 | $125 | -$10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $208 | $210 | -$2 | |
| Indiana | Dry | $200 | $210 | -$10 | |
| Iowa | Dry | $210 | $218 | -$8 | |
| Michigan | Dry | $200 | $205 | -$5 | |
| Minnesota | Dry | $205 | $210 | -$5 | |
| New York | Dry | $225 | $235 | -$10 | |
| South Dakota | Dry | $215 | $220 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $220 | $228 | -$8 | ||
| Wet | $75 | $80 | -$5 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $235 | $245 | -$10 | |
| Iowa | Dry | $235 | $240 | -$5 | |
| Michigan | Dry | $230 | $250 | -$20 | |
| Minnesota | Dry | $230 | $240 | -$10 | |
| Missouri | Dry | $245 | $245 | $0 | |
| Ohio | Dry | $230 | $240 | -$10 | |
| South Dakota | Dry | $240 | $245 | -$5 | |
| Nebraska | Dry | $250 | $255 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $265 | $275 | -$10 | |
| Wet* | $115 | $115 | $0 | ||
| Ill SOLD OUT JUNE | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $265 | $275 | -$10 | |
| Wet* | $115 | $115 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $215 | $215 | $0 | |
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $200 | $200 | $0 | |
| Michigan | Dry | $215 | $215 | $0 | |
| Minnesota | Dry | $200 | $200 | $0 | |
| Nebraska | Dry | $235 | $235 | $0 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $210 | $210 | $0 | |
| Ohio | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $210 | $210 | $0 | |
| Wisconsin | Dry | $200 | $200 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $200 | $205 | -$5 | ||
| Western Kansas | Dry | $255 | $260 | -$5 | |
| Wet | $90 | $100 | -$10 | ||
| **Weekly Average: | $217 | $221 | -$4 | ||
| (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 | 6/1/2023 | $5.9250 | $211.6072 |
| Soybean Meal | 6/1/2023 | $401.40 | |
| DDG Weekly Average Spot Price | 6/1/2023 | $217.00 | |
| DDG Value Relative to: | 6/1 | 5/25 | |
| Corn | 1.03% | 1.05% | |
| Soybean Meal | 54.06% | 55.64% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.04 | $8.19 | |
| Soybean Meal | $8.45 | $8.36 | |
| 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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