Market Matters Blog
DTN Weekly DDG Price Lower on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Feb. 8 was down $2 on average at $192 per ton versus one week ago. The lower corn market added pressure to DDG prices with the DTN National Corn Index down 12 cents versus one week ago. The California price was firm as intense rainfall caused flooding and mudslides, creating transportation problems.
The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.033 million barrels per day (bpd) in the week ended Feb. 2, up 42,000 bpd week-on-week, and 33,000 bpd, or 3.2%, higher than in the same week last year. Four-week average output at 974,000 bpd was 38,000 bpd below the same four weeks in 2022. Midwest ethanol production averaged 983,000 bpd, up 45,000 bpd week-on-week and 31,000 bpd, or 3.2%, higher than in the same week last year. Four-week average output at 922,000 bpd was 42,000 bpd below 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 Feb. 8 was 1.24%. The value of DDG relative to soybean meal was 55.32 and the cost per unit of protein for DDG was $7.11 compared to the cost per unit of protein for soybean meal at $7.31.
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In its weekly DDGS report, the U.S. Grains Council noted the most recent U.S. Grain Crushing's report showed DDGS production in December 2023 was 1.95 million tons. "This was up 9% from November 2023, and up 16% year-over-year. Wet mill corn gluten feed production was 246,000 tons in December 2023, down 3% year-over-year."
USDA used U.S. Census Bureau data released Wednesday to provide more details for exports of DDGS. U.S. exports of DDGS totaled 992,827 metric tons in December, up from 829,911 mt in November and up 13% from a year ago. South Korea was the top destination in December, taking 18% of U.S. exports and was followed by Mexico and Indonesia. For all of 2023, the 10.81 mmt of DDGS exports were down 1% from a year ago.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 2/8/2024 | 2/1/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $220 | $225 | -$5 | |
| Wet | $120 | $125 | -$5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $215 | $225 | -$10 | ||
| Wet | $115 | $120 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $205 | $205 | $0 | |
| Indiana | Dry | $185 | $180 | $5 | |
| Iowa | Dry | $190 | $190 | $0 | |
| Michigan | Dry | $185 | $185 | $0 | |
| Minnesota | Dry | $195 | $195 | $0 | |
| New York | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $205 | $205 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $210 | $210 | $0 | |
| Iowa | Dry | $205 | $210 | -$5 | |
| Michigan | Dry | $220 | $220 | $0 | |
| Minnesota | Dry | $195 | $205 | -$10 | |
| Missouri | Dry | $220 | $220 | $0 | |
| Ohio | Dry | $210 | $210 | $0 | |
| South Dakota | Dry | $205 | $210 | -$5 | |
| Nebraska SUBJECT | Dry | $220 | $220 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $70 | $70 | $0 | ||
| Illinois NO FEB | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $220 | $220 | $0 | |
| Wet | $70 | $70 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $190 | $0 | |
| Indiana | Dry | $195 | $195 | $0 | |
| Iowa | Dry | $180 | $185 | -$5 | |
| Michigan | Dry | $185 | $190 | -$5 | |
| Minnesota | Dry | $190 | $195 | -$5 | |
| Nebraska | Dry | $205 | $215 | -$10 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $200 | $210 | -$10 | |
| Ohio | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $195 | $200 | -$5 | |
| Wisconsin | Dry | $185 | $185 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $195 | $195 | $0 | ||
| Western Kansas | |||||
| Kansas | Dry | $240 | $235 | $5 | |
| Wet | $72 | $78 | -$6 | ||
| Western Milling | |||||
| California | Dry | $300 | $300 | $0 | |
| **Weekly Average: | $192 | $194 | -$2 | ||
| (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 | 2/8/2024 | $4.3325 | $154.7322 |
| Soybean Meal | 2/8/2024 | $347.10 | |
| DDG Weekly Average Spot Price | 2/8/2024 | $192.00 | |
| DDG Value Relative to: | 2/8 | 2/1 | |
| Corn | 1.24% | 1.13% | |
| Soybean Meal | 55.32% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.11 | $7.19 | |
| Soybean Meal | $7.31 | $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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