Market Matters Blog

DTN Weekly DDG Price 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 Jan. 11 was 1 cent weaker on average versus one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Jan. 11 was mixed but generally 1 cent weaker on average at $194 per ton versus one week ago. DDG prices were slightly lower on average as corn and soybean meal markets decreased compared to one week ago. Soybean meal was down $7.20 versus one week ago and the DTN National Corn Index was down 8 cents versus one week ago.

The Energy Information Administration reported overall ethanol production in the United States averaged 1.062 million barrels per day (bpd) as of Jan. 5, Energy Information Administration data show, up 13,000 bpd week-on-week and 119,000 bpd, or 11.2%, higher than in the same week last year. Four-week average output at 1.072 million bpd was 127,000 bpd above the same four weeks in 2023. Midwest ethanol production averaged 1.006 million bpd, up 11,000 bpd week-on-week and 111,000 bpd, or 11%, higher than in the same week last year. Four-week average output at 1.014 million bpd was 121,000 bpd above the same four weeks in 2023.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Jan. 11 was 1.19%. The value of DDG relative to soybean meal was 53.68 and the cost per unit of protein for DDG was $7.19 compared to the cost per unit of protein for soybean meal at $7.61.

In their weekly DDGS report, U.S. Grains Council said, "Notable price movement occurred in the Barge CIF New Orleans and FOB vessel Gulf prices. Both are down $15 metric ton (mt) from last week for January, February, and March. This likely occurred to offset barge freight rates, which were up 9% on the week."

USDA used Census Bureau data released Tuesday to provide more details for U.S. exports of DDGS. USDA noted that exports totaled 829,911 mt in November, down from 896,708 mt in October, but up 14% from a year ago. Mexico was the top destination in November, taking 21% of U.S. exports and was followed by South Korea and Vietnam. With one month of data remaining in 2023, exports of DDGS were down 3% from a year ago.

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT CURRENT CHANGE
COMPANY STATE 1/11/2024 1/4/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $225 $215 $10
Wet $120 $115 $5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $220 $220 $0
Wet $120 $120 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $205 $205 $0
Indiana Dry $180 $180 $0
Iowa Dry $185 $200 -$15
Michigan Dry $185 $185 $0
Minnesota Dry $190 $200 -$10
New York Dry $210 $210 $0
South Dakota Dry $195 $200 -$5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $210 $210 $0
Iowa Dry $210 $210 $0
Michigan Dry $220 $220 $0
Minnesota Dry $205 $205 $0
Missouri Dry $225 $225 $0
Ohio Dry $210 $210 $0
South Dakota Dry $210 $215 -$5
Nebraska Dry $225 $225 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $230 $235 -$5
Call Wet $80 $80 $0
Illinois NO JAN Dry $0 $0 $0
Nebraska Dry $230 $235 -$5
Call Wet $80 $80 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $190 $190 $0
Indiana Dry $195 $195 $0
Iowa Dry $185 $195 -$10
Michigan Dry $190 $195 -$5
Minnesota Dry $195 $195 $0
Nebraska Dry $205 $210 -$5
New York Dry $260 $260 $0
North Dakota Dry $210 $215 -$5
Ohio Dry $195 $195 $0
South Dakota Dry $200 $210 -$10
Wisconsin Dry $185 $190 -$5
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $195 $195 $0
Western Kansas
Kansas Dry $235 $245 -$10
Wet $80 $80 $0
Western Milling
California Dry $275 $275 $0
**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 1/11/2024 $4.5775 $163.4822
Soybean Meal 1/11/2024 $361.40
DDG Weekly Average Spot Price 1/11/2024 $194.00
DDG Value Relative to: 1/11 1/4
Corn 1.19% 1.13%
Soybean Meal 53.68% 48.84%
Cost Per Unit of Protein:
DDG $7.19 $7.19
Soybean Meal $7.61 $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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