Market Matters Blog
DTN Weekly DDG Prices Mixed, But Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Aug. 10 was $197 per ton, down $2 on average from one week ago. DDG prices were mixed, but lower on average as demand appears to have slowed for now, especially in the deferred market. There is also some caution ahead of the Aug. 11 USDA WASDE and Crop Production reports as to what changes may be made to their corn yield estimate and how the futures market will react.
The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 4, overall ethanol production in the United States averaged 1.023 million barrels per day (bpd), down 44,000 bpd week-on-week and 1,000 bpd, or 0.1% higher, than in the same week last year, according to Energy Information Administration data. Four-week average output at 1.064 million bpd was 34,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 965,000 bpd, down 40,000 bpd, week-on-week, unchanged from the same week last year. Four-week average output at 999,000 bpd was 28,000 bpd above 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 Aug. 10 was 1.14%. The value of DDG relative to soybean meal was 45.86 and the cost per unit of protein for DDG was $7.30 compared to the cost per unit of protein for soybean meal at $9.04.
USDA, using Tuesday's Census Bureau data, reported that U.S. exports of DDGS totaled 949,904 metric tons (mt) in June, down from 958,385 mt in May. Mexico was the top destination in June, taking 20% of U.S. exports, and was followed by Vietnam and Indonesia. In the first half of 2023, exports of DDGS were down 10% from a year ago.
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 | 8/10/2023 | 8/3/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $225 | $225 | $0 | |
| Wet | $120 | $120 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $225 | $225 | $0 | ||
| Wet | $110 | $110 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $195 | $195 | $0 | |
| Indiana | Dry | $190 | $190 | $0 | |
| Iowa | Dry | $195 | $195 | $0 | |
| Michigan | Dry | $190 | $190 | $0 | |
| Minnesota | Dry | $190 | $190 | $0 | |
| New York | Dry | $205 | $205 | $0 | |
| South Dakota | Dry | $190 | $200 | -$10 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $200 | $200 | $0 | ||
| Wet | $67 | $67 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $230 | $230 | $0 | |
| Iowa | Dry | $210 | $220 | -$10 | |
| Michigan | Dry | $240 | $240 | $0 | |
| Minnesota | Dry | $210 | $215 | -$5 | |
| Missouri | Dry | $240 | $245 | -$5 | |
| Ohio | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $215 | $225 | -$10 | |
| Nebraska | Dry | $210 | $220 | -$10 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $205 | $205 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Ill SOLD OUT AUGUST | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $205 | $205 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $195 | $195 | $0 | |
| Indiana | Dry | $190 | $190 | $0 | |
| Iowa | Dry | $185 | $185 | $0 | |
| Michigan | Dry | $200 | $200 | $0 | |
| Minnesota | Dry | $190 | $190 | $0 | |
| Nebraska | Dry | $185 | $185 | $0 | |
| New York | Dry | $240 | $240 | $0 | |
| North Dakota | Dry | $185 | $185 | $0 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $185 | $195 | -$10 | |
| Wisconsin | Dry | $195 | $195 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $180 | $185 | -$5 | ||
| Western Kansas | Dry | $237 | $232 | $5 | |
| Wet | $85 | $83 | $2 | ||
| **Weekly Average: | $197 | $199 | -$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 | 8/10/2023 | $4.8325 | $172.5893 |
| Soybean Meal | 8/10/2023 | $429.60 | |
| DDG Weekly Average Spot Price | 8/10/2023 | $197.00 | |
| DDG Value Relative to: | 8/10 | 8/3 | |
| Corn | 1.14% | 1.16% | |
| Soybean Meal | 45.86% | 44.10% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.30 | $7.37 | |
| Soybean Meal | $9.04 | $9.50 | |
| 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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