Market Matters Blog
DTN Weekly DDG Price Higher on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended July 27 was $203 per ton, up $2 on average from one week ago. DDG prices were mixed but higher on average as plant production rose again, leaving supplies plentiful. The extreme heat that blanketed most of the U.S. this past week also caused cattle to lose their appetite.
The Energy Information Administration (EIA) at midweek reported for the week ended July 21, overall ethanol production in the United States averaged 1.094 million barrels per day (bpd), Energy Information Administration data show, up 24,000 bpd week-on-week and 73,000 bpd, or 6.7%, higher than in the same week last year. Four-week average output at 1.064 million bpd was 38,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.02 million bpd, up 12,000 bpd week-on-week and 58,000 bpd, or 5.7%, higher than in the same week last year. Four-week average output at 999,000 bpd was 33,000 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 July 27 was 1.07%. The value of DDG relative to soybean meal was 43.70 and the cost per unit of protein for DDG was $7.52 compared to the cost per unit of protein for soybean meal at $9.78.
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In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA DDGS offers are mixed this week with August down $1 metric ton (mt) while September/October offers are steady/up $2 mt. FOB NOLA offers are higher with spot positions up $6 to $284 mt and deferred positions rising $4 to $5 from last week's values. U.S. rail rates are steady for nearby positions and up $2 to $3 for Q4. Finally, offers for 40-foot containers to Southeast Asia are down $2 mt at $318 for August shipment amid another week of lower ocean freight rates."
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 | 7/27/2023 | 7/20/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $220 | $205 | $15 | |
| Wet | $120 | $120 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $225 | $210 | $15 | ||
| Wet | $110 | $100 | $10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $210 | $205 | $5 | |
| Indiana | Dry | $200 | $195 | $5 | |
| Iowa | Dry | $205 | $200 | $5 | |
| Michigan | Dry | $195 | $190 | $5 | |
| Minnesota | Dry | $195 | $190 | $5 | |
| New York | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $210 | $210 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $200 | $195 | $5 | ||
| Wet | $70 | $70 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $240 | $235 | $5 | |
| Iowa | Dry | $220 | $215 | $5 | |
| Michigan | Dry | $250 | $230 | $20 | |
| Minnesota | Dry | $215 | $210 | $5 | |
| Missouri | Dry | $245 | $245 | $0 | |
| Ohio | Dry | $240 | $230 | $10 | |
| South Dakota | Dry | $225 | $215 | $10 | |
| Nebraska | Dry | $220 | $215 | $5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $205 | $235 | -$30 | |
| Wet* | $80 | $85 | -$5 | ||
| Ill SOLD OUT JUL/AU | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $205 | $235 | -$30 | |
| Wet* | $80 | $85 | -$5 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $200 | $200 | $0 | |
| Indiana | Dry | $190 | $190 | $0 | |
| Iowa | Dry | $195 | $195 | $0 | |
| Michigan | Dry | $205 | $205 | $0 | |
| Minnesota | Dry | $190 | $190 | $0 | |
| Nebraska | Dry | $195 | $195 | $0 | |
| New York | Dry | $240 | $240 | $0 | |
| North Dakota | Dry | $185 | $188 | -$3 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $195 | $200 | -$5 | |
| Wisconsin | Dry | $195 | $195 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $190 | $190 | $0 | ||
| Western Kansas | Dry | $235 | $235 | $0 | |
| Wet | $85 | $87 | -$2 | ||
| **Weekly Average: | $203 | $201 | $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 | 7/27/2023 | $5.3325 | $190.4465 |
| Soybean Meal | 7/27/2023 | $464.50 | |
| DDG Weekly Average Spot Price | 7/27/2023 | $203.00 | |
| DDG Value Relative to: | 7/27 | 7/20 | |
| Corn | 1.07% | 1.05% | |
| Soybean Meal | 43.70% | 45.63% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.52 | $7.44 | |
| Soybean Meal | $9.78 | $9.27 | |
| 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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