Market Matters Blog

DTN Weekly DDG Average Price Stronger Again

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 Nov. 16 was higher on average versus 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 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.

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

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