Market Matters Blog

DTN Weekly DDG Price Continues 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 Feb. 22 is down $3 per ton 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 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

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