Market Matters Blog
DTN Weekly DDG Average Price Stronger Again
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Nov. 16 was up $3 at $204 per ton on average versus one week ago. DDG prices continue to find support from continued export demand and an uptick in domestic demand later in the week.
The Energy Information Administration on Wednesday said that overall ethanol production in the United States averaged 1.047 million barrels per day (bpd) in the week ended Nov. 10, up 5,000 bpd week-on-week and 36,000 bpd or 3.6% higher than in the same week last year, the latest data show. The four-week average output at 1.045 million bpd was 128,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 987,000 bpd, up 1,000 bpd week-on-week and 33,000 bpd, or 3.5% higher than in the same week last year. The four-week average output at 988,000 bpd was 13,000 bpd above the same four weeks in 2022.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Nov. 16 was 1.20%. The value of DDG relative to soybean meal was 43.70 and the cost per unit of protein for DDG was $7.56 compared to the cost per unit of protein for soybean meal at $9.83.
In their weekly DDGS export update, the U.S. Grains Council said, "The rail market remains strong with rates up $8/MT for November/December shipment and up $19/MT for Q1 2024. Barge CIF NOLA offers are up $6/MT for December this week and are up $10 for January and February. FOB NOLA offers are $7/MT higher for December and are up $8-10 for early 2024 positions. Prices for containerized DDGS to Southeast Asia rose $3/MT this week to average $330 for December shipment."
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 | 11/16/2023 | 11/9/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $225 | $220 | $5 | |
| Wet | $125 | $120 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $230 | $220 | $10 | ||
| Wet | $115 | $110 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $215 | $210 | $5 | |
| Indiana | Dry | $195 | $190 | $5 | |
| Iowa | Dry | $205 | $200 | $5 | |
| Michigan | Dry | $195 | $192 | $3 | |
| Minnesota | Dry | $205 | $198 | $7 | |
| New York | Dry | $220 | $220 | $0 | |
| South Dakota | Dry | $210 | $200 | $10 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $209 | $210 | -$1 | ||
| Wet | $70 | $73 | -$3 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $220 | $215 | $5 | |
| Michigan | Dry | $220 | $215 | $5 | |
| Minnesota | Dry | $220 | $215 | $5 | |
| Missouri | Dry | $240 | $240 | $0 | |
| Ohio | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $220 | $215 | $5 | |
| Nebraska | Dry | $230 | $220 | $10 | |
| 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 | $190 | $195 | -$5 | |
| Indiana | Dry | $195 | $195 | $0 | |
| Iowa | Dry | $195 | $190 | $5 | |
| Michigan | Dry | $195 | $195 | $0 | |
| Minnesota | Dry | $195 | $190 | $5 | |
| Nebraska | Dry | $220 | $210 | $10 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $215 | $210 | $5 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $200 | $200 | $0 | |
| Wisconsin | Dry | $195 | $195 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $190 | $185 | $5 | ||
| Western Kansas | Dry | $255 | $245 | $10 | |
| Wet | $86 | $92 | -$6 | ||
| Western Milling, CA | Dry | $295 | $295 | $0 | |
| **Weekly Average: | $204 | $201 | $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 | 11/16/2023 | $4.7475 | $169.5536 |
| Soybean Meal | 11/16/2023 | $466.80 | |
| DDG Weekly Average Spot Price | 11/16/2023 | $204.00 | |
| DDG Value Relative to: | 11/16 | 11/9 | |
| Corn | 1.20% | 1.13% | |
| Soybean Meal | 43.70% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.56 | $7.19 | |
| Soybean Meal | $9.83 | $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
(c) Copyright 2023 DTN, LLC. All rights reserved.
Comments
To comment, please Log In or Join our Community .