Market Matters Blog

DTN Weekly DDG Prices Slightly Lower on Average

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains for the week ended Sept. 7 was down $1 on average from one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Sept. 7 was $194 per ton, down $1 on average from one week ago.

DDG prices were mixed, but slightly lower on average, as feed demand is flat right now, and as corn harvest progresses, DDG prices will likely come under pressure. The DTN National Corn Index is down 6 cents versus one week ago.

The Energy Information Administration (EIA) at midweek reported for the week ended Aug. 25, overall ethanol production in the United States averaged 1.012 million barrels per day (bpd), up 5,000 bpd week-on-week and 23,000 bpd, or 2.3%, higher than in the same week last year. Four-week average output at 1.034 million bpd was 52,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 951,000 bpd, down 1,000 bpd week-on-week and 20,000 bpd, or 2.1% higher than in the same week last year. The four-week average output at 977,000 bpd was 53,000 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 Sept. 7 was 1.15%. The value of DDG relative to soybean meal was 48.09, and the cost per unit of protein for DDG was $7.19 compared to the cost per unit of protein for soybean meal at $8.49. (Table is still based Sept futures.)

USDA midweek used U.S. Census Bureau export data to report U.S. exports of DDGS totaled 993,018 metric tons (mt) in July, up from 949,904 mt in June, but down 2% from a year ago. Mexico was the top destination in July, taking 19% of U.S. exports and was followed by Vietnam and Indonesia. In the first seven months of 2023, exports of DDGS were down 9% 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 9/7/2023 8/31/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $205 $205 $0
Wet $110 $110 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $215 $215 $0
Wet $105 $105 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $200 $200 $0
Indiana Dry $190 $190 $0
Iowa Dry $195 $195 $0
Michigan Dry $200 $200 $0
Minnesota Dry $190 $190 $0
New York Dry $225 $225 $0
South Dakota Dry $190 $190 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $198 $195 $3
Wet $60 $60 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $215 $220 -$5
Iowa Dry $200 $205 -$5
Michigan Dry $225 $230 -$5
Minnesota Dry $200 $205 -$5
Missouri Dry $235 $235 $0
Ohio Dry $215 $215 $0
South Dakota Dry $205 $210 -$5
Nebraska Dry $200 $205 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $205 $200 $5
Wet $80 $80 $0
Ill SOLD OUT SEP Dry $0 $0 $0
Nebraska Dry $205 $200 $5
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 $195 $195 $0
Minnesota Dry $183 $190 -$7
Nebraska Dry $195 $195 $0
New York Dry $235 $235 $0
North Dakota Dry $195 $195 $0
Ohio Dry $195 $195 $0
South Dakota Dry $185 $185 $0
Wisconsin Dry $190 $190 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $185 $185 $0
Western Kansas Dry $230 $237 -$7
Wet $83 $85 -$2
**Weekly Average: $194 $195 -$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 9/7/2023 $4.7075 $168.1250
Soybean Meal 9/7/2023 $403.40
DDG Weekly Average Spot Price 9/7/2023 $194.00
DDG Value Relative to: 9/7 8/31
Corn 1.15% 1.18%
Soybean Meal 48.09% 46.57%
Cost Per Unit of Protein:
DDG $7.19 $7.22
Soybean Meal $8.49 $8.81
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 X, formerly known as Twitter, @MaryCKenn

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