Market Matters Blog
DTN Weekly DDG Price Continues Lower on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Feb. 22 was down $3 on average at $187 per ton versus one week ago. Prices were steady to lower, with supplies not an issue given another week of higher plant production. The corn market added pressure again to DDG prices as the market continues to slide, with corn futures on Feb. 22 hitting another new low. The DTN National Corn Index was down 11 cents versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.084 million barrels per day (bpd) in the week ended Feb. 16, up 1,000 bpd week-on-week and 55,000 bpd, or 5.1% higher, than in the same week last year, the Energy Information Administration reports. Four-week average output at 1.048 million bpd was 30,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.032 million bpd, flat week-on-week and 48,000 bpd, or 4.7% higher, than in the same week last year. Four-week average output at 996,000 bpd was 25,000 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 Feb. 22 was 1.29%. The value of DDG relative to soybean meal was 55.84 and the cost per unit of protein for DDG was $6.93 compared to the cost per unit of protein for soybean meal at $7.05.
U.S. Grains Council in their weekly DDGS export market prices update said, "Stable domestic DDGS prices helped keep most export quotes relatively stable week-over-week. Most March DDGS export prices increased week-over-week by $2 to $3 metric ton (MT). One exception was Barge CIF New Orleans prices which decreased $3/MT."
Note: All prices subject to change/confirmation.
ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
COMPANY | STATE | 2/22/2024 | 2/15/2024 | ||
Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
Missouri | Dry | $210 | $212 | -$2 | |
Wet | $110 | $112 | -$2 | ||
Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
Dry | $210 | $215 | -$5 | ||
Wet | $105 | $115 | -$10 | ||
CHS, Minneapolis, MN (800-769-1066) | |||||
Illinois | Dry | $200 | $200 | $0 | |
Indiana | Dry | $180 | $180 | $0 | |
Iowa | Dry | $185 | $188 | -$3 | |
Michigan | Dry | $185 | $185 | $0 | |
Minnesota | Dry | $180 | $190 | -$10 | |
New York | Dry | $205 | $210 | -$5 | |
South Dakota | Dry | $190 | $195 | -$5 | |
POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
Indiana | Dry | $210 | $210 | $0 | |
Iowa | Dry | $200 | $200 | $0 | |
Michigan | Dry | $220 | $220 | $0 | |
Minnesota | Dry | $195 | $195 | $0 | |
Missouri | Dry | $220 | $220 | $0 | |
Ohio | Dry | $210 | $210 | $0 | |
South Dakota | Dry | $200 | $205 | -$5 | |
Nebraska | Dry | $200 | $205 | -$5 | |
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 | $190 | $190 | $0 | |
Iowa | Dry | $175 | $180 | -$5 | |
Michigan | Dry | $180 | $180 | $0 | |
Minnesota | Dry | $185 | $185 | $0 | |
Nebraska | Dry | $190 | $200 | -$10 | |
New York | Dry | $260 | $260 | $0 | |
North Dakota | Dry | $190 | $195 | -$5 | |
Ohio | Dry | $190 | $190 | $0 | |
South Dakota | Dry | $185 | $195 | -$10 | |
Wisconsin | Dry | $180 | $185 | -$5 | |
Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
Dry | $190 | $190 | $0 | ||
Western Kansas | |||||
Kansas | Dry | $240 | $240 | $0 | |
Wet | $72 | $72 | $0 | ||
Western Milling | |||||
California | Dry | $285 | $295 | -$10 | |
**Weekly Average: | $187 | $190 | -$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 | 2/22/2024 | $4.0600 | $145.0000 |
Soybean Meal | 2/22/2024 | $334.90 | |
DDG Weekly Average Spot Price | 2/22/2024 | $187.00 | |
DDG Value Relative to: | 2/22 | 2/15 | |
Corn | 1.29% | 1.13% | |
Soybean Meal | 55.84% | 48.84% | |
Cost Per Unit of Protein: | |||
DDG | $6.93 | $7.19 | |
Soybean Meal | $7.05 | $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 2024 DTN, LLC. All rights reserved.
Comments
To comment, please Log In or Join our Community .