Market Matters Blog
DTN Weekly DDG Prices Mixed, But Slightly Lower on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Aug. 17 was $196 per ton, down $1 on average from one week ago. DDG prices were mixed, but slightly lower on average as demand is mostly for spot and given another hike in plant production, there are plenty of DDG supplies right now. The cash corn price has been seesawing all week and as of Thursday, the DTN National Corn Index was down 13 cents from one week ago.
The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 11, overall ethanol production in the United States averaged 1.069 million bpd, up 46,000 bpd week-on-week and 86,000 bpd, or 8% higher than in the same week last year, the last Energy Information Administration data show. Four-week average output at 1.063 million bpd was 46,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.012 million bpd, up 47,000 bpd week-on-week and 86,000 bpd, or 8.5% higher than in the same week last year. Four-week average output at 1 million bpd was 41,000 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. 17 was 1.16%. The value of DDG relative to soybean meal was 49.05 and the cost per unit of protein for DDG was $7.26 compared to the cost per unit of protein for soybean meal at $8.41.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA DDGS offers are steady/higher this week with declining draft levels in the Mississippi River helping support freight rates. Spot offers are up $1/MT while October and November are up $4-6/MT week. FOB NOLA offers largely unchanged from last week, but September values are down $2 at $266/MT. U.S. rail rates are $5/MT lower for the week while offers for 40-foot containers to Southeast Asia are up $1-2/MT for September shipment and up $2/MT for Q4 as ocean freight rates firm for a second straight week."
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 | 8/17/2023 | 8/10/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $210 | $225 | -$15 | |
| Wet | $120 | $120 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $215 | $225 | -$10 | ||
| Wet | $105 | $110 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $195 | $195 | $0 | |
| Indiana | Dry | $188 | $190 | -$2 | |
| Iowa | Dry | $190 | $195 | -$5 | |
| Michigan | Dry | $190 | $190 | $0 | |
| Minnesota | Dry | $185 | $190 | -$5 | |
| New York | Dry | $200 | $205 | -$5 | |
| South Dakota | Dry | $190 | $190 | $0 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $190 | $200 | -$10 | ||
| Wet | $58 | $67 | -$9 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $230 | $230 | $0 | |
| Iowa | Dry | $210 | $210 | $0 | |
| Michigan | Dry | $240 | $240 | $0 | |
| Minnesota | Dry | $210 | $210 | $0 | |
| Missouri | Dry | $240 | $240 | $0 | |
| Ohio | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $215 | $215 | $0 | |
| Nebraska | Dry | $210 | $210 | $0 | |
| 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 | $185 | $0 | |
| Wisconsin | Dry | $195 | $195 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $180 | $180 | $0 | ||
| Western Kansas | Dry | $237 | $237 | $0 | |
| Wet | $85 | $85 | $0 | ||
| **Weekly Average: | $196 | $197 | -$1 | ||
| (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 | 8/17/2023 | $4.7300 | $168.9286 |
| Soybean Meal | 8/17/2023 | $399.60 | |
| DDG Weekly Average Spot Price | 8/17/2023 | $196.00 | |
| DDG Value Relative to: | 8/17 | 8/10 | |
| Corn | 1.16% | 1.14% | |
| Soybean Meal | 49.05% | 45.86% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.26 | $7.30 | |
| Soybean Meal | $8.41 | $9.04 | |
| 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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