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 March 7 was down $4 on average at $191 per ton versus one week ago. DDG prices were mixed but lower on average, in spite of strength in the cash corn price this past week and lower plant production. The DTN National Corn Index was 10 cents higher Thursday versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.057 million barrels per day (bpd) as of March 1, down 21,000 bpd week-on-week and 47,000 bpd, or 4.4%, higher than in the same week last year. Four-week average output at 1.075 million bpd was 61,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.008 million bpd, down 21,000 bpd week-on-week and 44,000 bpd, or 4.4%, higher than in the same week last year.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended March 7 was 1.26%. The value of DDG relative to soybean meal was 56.19 and the cost per unit of protein for DDG was $7.07 compared to the cost per unit of protein for soybean meal at $7.16. (Still off March futures.)
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According to U.S. Grains Council weekly DDGS export prices, barge CIF NOLA was down $7 versus last week, FOB Vessel Gulf was down $6, rail delivered PNW was down $15 and 40-foot containers to Vietnam were down $18 versus one week ago.
USDA used Census Bureau data released this week and reported U.S. exports of DDGS totaled 902,376 metric tons (mt) in January, down from 992,827 mt in December, but up 17% from a year ago. Mexico was the top destination in January, taking 28% of U.S. exports and was followed by South Korea and Indonesia. For all of 2023, 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 | 3/7/2024 | 2/29/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $205 | $205 | $0 | |
| Wet | $105 | $105 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $195 | $205 | -$10 | ||
| Wet | $95 | $100 | -$5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $195 | $205 | -$10 | |
| Indiana | Dry | $170 | $175 | -$5 | |
| Iowa | Dry | $180 | $180 | $0 | |
| Michigan | Dry | $180 | $180 | $0 | |
| Minnesota | Dry | $175 | $175 | $0 | |
| New York | Dry | $195 | $195 | $0 | |
| South Dakota | Dry | $175 | $175 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $200 | $210 | -$10 | |
| Iowa | Dry | $190 | $195 | -$5 | |
| Michigan | Dry | $200 | $220 | -$20 | |
| Minnesota | Dry | $185 | $190 | -$5 | |
| Missouri | Dry | $210 | $215 | -$5 | |
| Ohio | Dry | $200 | $195 | $5 | |
| South Dakota | Dry | $190 | $195 | -$5 | |
| Nebraska | Dry | $195 | $200 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $220 | $220 | $0 | |
| Wet | $70 | $70 | $0 | ||
| Illinois NO MARCH | Dry | $204 | $204 | $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 | $170 | $175 | -$5 | |
| Michigan | Dry | $180 | $180 | $0 | |
| Minnesota | Dry | $180 | $185 | -$5 | |
| Nebraska | Dry | $180 | $190 | -$10 | |
| New York | Dry | $260 | $260 | $0 | |
| North Dakota | Dry | $185 | $190 | -$5 | |
| Ohio | Dry | $185 | $190 | -$5 | |
| South Dakota | Dry | $175 | $185 | -$10 | |
| Wisconsin | Dry | $180 | $180 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $185 | $185 | $0 | ||
| Western Kansas | |||||
| SUBJECT | Dry | $240 | $240 | $0 | |
| Wet | $75 | $75 | $0 | ||
| Western Milling | |||||
| California | Dry | $285 | $285 | $0 | |
| **Weekly Average: | $191 | $195 | -$4 | ||
| (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 | 3/7/2024 | $4.2600 | $152.1429 |
| Soybean Meal | 3/7/2024 | $339.90 | |
| DDG Weekly Average Spot Price | 3/7/2024 | $191.00 | |
| DDG Value Relative to: | 3/7 | 2/29 | |
| Corn | 1.26% | 1.13% | |
| Soybean Meal | 56.19% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.07 | $7.19 | |
| Soybean Meal | $7.16 | $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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