Market Matters Blog

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended March 28 was down $3 on average at $182 per ton versus one week ago. DDG prices were mixed but continued lower on average, as some traders noted demand was light ahead of the short holiday week. As spring maintenance ends, plant production is ramping up again, adding to DDG supplies.

The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.054 million barrels per day (bpd) through March 22, up 8,000 bpd week-on-week and 51,000 bpd, or 4.8%, higher than in the same week last year. Four-week average output at 1.045 million bpd was 39,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.007 million bpd, up 12,000 bpd week-on-week and 51,000 bpd, or 5.1%, higher than in the same week last year. Four-week average output at 996,000 bpd was 36,000 bpd above the same four weeks last year.

U.S. Grains Council reported in their weekly DDGS update that the DDGS/cash corn ratio was 1.22, down slightly from 1.24 last week. The DDGS/KC soybean meal ratio was 0.53, down slightly from last week's value of 0.54.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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