Market Matters Blog
DTN Weekly DDG Prices Steady on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Oct. 12 was mixed but unchanged at $194 per ton on average from one week ago. Prices held for the week, even as plant production was lower, but there also wasn't much change in cash corn compared to last week. The DTN National Corn Index is down 1 cent versus one week ago.
The Energy Information Administration (EIA) at midweek reported for the week ended Oct. 6 overall ethanol production in the United States averaged 1.004 million barrels per day (bpd), down 5,000 bpd week-on-week and 72,000 bpd, or 7.2%, higher than in the same week last year. Four-week average output at 1 million bpd was 106,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 950,000 bpd, down 8,000 bpd week-on-week and 69,000 bpd, or 7.3%, higher than in the same week last year. Four-week average output at 946,000 bpd was 103,000 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 Oct. 12 was 1.10%. The value of DDG relative to soybean meal was 50.05 and the cost per unit of protein for DDG was $7.19 compared to the cost per unit of protein for soybean meal at $8.16.
In their weekly DDGS export update, the U.S. Grains Council said, "Rates for DDGS delivered by rail to key U.S. locations are down $6 metric ton (mt) this week and extended last week's weakness with railroads lowering rates amid light demand. Barge CIF NOLA DDGS offers are $16 mt lower this week as barge rates pull back from their recent rally. Spot offers for Barge CIF NOLA DDGS average $239 mt with $1 carries for December and January positions. FOB Gulf offers are down $10 mt for November at $252 while offers for December and January are down $8. Finally, offers for 40-foot containers to Southeast Asia are down $6 mt due to the combined pullbacks in U.S. DDGS markets and ocean freight 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 | 10/12/2023 | 10/5/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $210 | $210 | $0 | |
| Wet | $110 | $110 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $220 | $220 | $0 | ||
| Wet | $110 | $110 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $180 | $180 | $0 | |
| Iowa | Dry | $185 | $185 | $0 | |
| Michigan | Dry | $190 | $190 | $0 | |
| Minnesota | Dry | $180 | $185 | -$5 | |
| New York | Dry | $215 | $215 | $0 | |
| South Dakota | Dry | $185 | $190 | -$5 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $205 | $210 | -$5 | ||
| Wet | $70 | $71 | -$1 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $215 | $215 | $0 | |
| Iowa | Dry | $200 | $200 | $0 | |
| Michigan | Dry | $225 | $225 | $0 | |
| Minnesota | Dry | $195 | $195 | $0 | |
| Missouri | Dry | $225 | $225 | $0 | |
| Ohio | Dry | $215 | $215 | $0 | |
| South Dakota | Dry | $205 | $205 | $0 | |
| Nebraska | Dry | $210 | $210 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $90 | $90 | $0 | ||
| Ill SOLD OUT OCT | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $90 | $90 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $190 | $190 | $0 | |
| Iowa | Dry | $185 | $185 | $0 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $185 | $185 | $0 | |
| Nebraska | Dry | $200 | $200 | $0 | |
| New York | Dry | $240 | $240 | $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 | $190 | -$5 | ||
| Western Kansas | Dry | $232 | $232 | $0 | |
| Wet | $85 | $85 | $0 | ||
| Western Milling, CA | Dry | $273 | $272 | $1 | |
| **Weekly Average: | $194 | $194 | $0 | ||
| (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 | 10/12/2023 | $4.9600 | $177.1429 |
| Soybean Meal | 10/12/2023 | $387.60 | |
| DDG Weekly Average Spot Price | 10/12/2023 | $194.00 | |
| DDG Value Relative to: | 10/12 | 10/5 | |
| Corn | 1.10% | 1.13% | |
| Soybean Meal | 50.05% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.19 | $7.19 | |
| Soybean Meal | $8.16 | $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 X, formerly known as Twitter, @MaryCKenn
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