Market Matters Blog

DTN Weekly DDG Price Lower Again 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 March 14 is down $2 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 March 14 was down $2 on average at $189 per ton versus one week ago. DDG prices were mixed but lower on average, with corn futures slightly lower versus one week ago and in spite of lower plant production. The DTN National Corn Index was 4 cents lower Thursday versus one week ago.

The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.024 million barrels per day (bpd) as of March 8, down 33,000 bpd week-on-week, while 10,000 bpd or 1% higher than in the same week last year. Four-week average output at 1.06 million bpd was 46,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 973,000 bpd, down 35,000 bpd week-on-week, yet 7,000 bpd or 0.7% higher than in the same week last year. Four-week average output at 1.011 million bpd was 43,000 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 March 14 was 1.22%. The value of DDG relative to soybean meal was 56.72 and the cost per unit of protein for DDG was $7 compared to the cost per unit of protein for soybean meal at $7.01.

According to U.S. Grains Council weekly DDGS export prices, barge CIF NOLA was down $12 versus last week, FOB Vessel Gulf was down $12, rail delivered PNW was down $2 and 40-foot containers to South Korea were down $3 versus one week ago.

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 3/14/2024 3/7/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $200 $205 -$5
Wet $100 $105 -$5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $190 $195 -$5
Wet $90 $95 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $190 $195 -$5
Indiana Dry $170 $170 $0
Iowa Dry $175 $180 -$5
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 $200 $0
Iowa Dry $185 $190 -$5
Michigan Dry $200 $200 $0
Minnesota Dry $180 $185 -$5
Missouri Dry $205 $210 -$5
Ohio Dry $195 $200 -$5
South Dakota Dry $190 $190 $0
Nebraska Dry $195 $195 $0
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 $170 $0
Michigan Dry $180 $180 $0
Minnesota Dry $180 $180 $0
Nebraska Dry $175 $180 -$5
New York Dry $260 $260 $0
North Dakota Dry $180 $185 -$5
Ohio Dry $185 $185 $0
South Dakota Dry $175 $175 $0
Wisconsin Dry $180 $180 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $185 $185 $0
Western Kansas
Kansas Dry $235 $240 -$5
Wet $78 $75 $3
Western Milling
California Dry $0
**Weekly Average: $189 $191 -$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 3/14/2024 $4.3375 $154.9107
Soybean Meal 3/14/2024 $333.20
DDG Weekly Average Spot Price 3/14/2024 $189.00
DDG Value Relative to: 3/14 3/7
Corn 1.22% 1.13%
Soybean Meal 56.72% 48.84%
Cost Per Unit of Protein:
DDG $7.00 $7.19
Soybean Meal $7.01 $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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