Market Matters Blog
DTN Weekly DDG Average Price Higher Again
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Nov. 9 was up $3 at $201 per ton on average versus one week ago. DDG prices this week are finding support from rail and export market demand and better conditions for now on the river to move barges. Given the Mississippi River at Memphis has moved up to -5.37 feet, draft and tow restrictions have eased, and expectations are the water level is heading lower so we could see those restrictions reinstated should that happen.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 9 was 1.20%. The value of DDG relative to soybean meal was 44.68 and the cost per unit of protein for DDG was $7.44 compared to the cost per unit of protein for soybean meal at $9.47.
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In their weekly DDGS export update, the U.S. Grains Council said, "Higher FOB plant prices and the strong western rail market are further supporting values along the river system and for exported product. Barge CIF NOLA offers are up $13 metric ton (mt) for November this week and are up $11 to $12 for December-January. FOB NOLA offers are $7 mt higher for November through early 2024 positions. Prices for containerized DDGS to Southeast Asia advanced $13 mt this week to average $329 for November shipment."
According to the recent U.S. Census Bureau U.S. exports of goods and services report, U.S. exports of DDGS totaled 1,030,559 mt in September, up from 947,326 mt in August and up 14% from a year ago. It was also the highest monthly total in over a year. Mexico was the top destination in September, taking 20% of U.S. exports, followed by Vietnam and South Korea. In the first nine months of 2023, exports of DDGS were down 6% 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 | 11/9/2023 | 11/2/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $220 | $220 | $0 | |
| Wet | $120 | $120 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $220 | $210 | $10 | ||
| Wet | $110 | $105 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $210 | $205 | $5 | |
| Indiana | Dry | $190 | $185 | $5 | |
| Iowa | Dry | $200 | $195 | $5 | |
| Michigan | Dry | $192 | $188 | $4 | |
| Minnesota | Dry | $198 | $195 | $3 | |
| New York | Dry | $220 | $215 | $5 | |
| South Dakota | Dry | $200 | $190 | $10 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $210 | $198 | $12 | ||
| Wet | $73 | $71 | $2 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $215 | $210 | $5 | |
| Michigan | Dry | $215 | $215 | $0 | |
| Minnesota | Dry | $215 | $210 | $5 | |
| Missouri | Dry | $240 | $240 | $0 | |
| Ohio | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $215 | $215 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $90 | $90 | $0 | ||
| Ill SOLD OUT NOV | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $90 | $90 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $195 | $190 | $5 | |
| Indiana | Dry | $195 | $190 | $5 | |
| Iowa | Dry | $190 | $185 | $5 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $190 | $185 | $5 | |
| Nebraska | Dry | $210 | $200 | $10 | |
| New York | Dry | $260 | $250 | $10 | |
| North Dakota | Dry | $210 | $210 | $0 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $200 | $195 | $5 | |
| Wisconsin | Dry | $195 | $190 | $5 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $185 | $185 | $0 | ||
| Western Kansas | Dry | $245 | $250 | -$5 | |
| Wet | $92 | $90 | $2 | ||
| Western Milling, CA | Dry | $295 | $285 | $10 | |
| **Weekly Average: | $201 | $198 | $3 | ||
| (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 | 11/9/2023 | $4.6800 | $167.1429 |
| Soybean Meal | 11/9/2023 | $449.90 | |
| DDG Weekly Average Spot Price | 11/9/2023 | $201.00 | |
| DDG Value Relative to: | 11/9 | 11/2 | |
| Corn | 1.20% | 1.13% | |
| Soybean Meal | 44.68% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.44 | $7.19 | |
| Soybean Meal | $9.47 | $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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