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 April 4 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 April 4 was down $2 on average at $180 per ton versus one week ago. DDG prices were mixed but continued lower on average, as plant production increased again amid slow demand. The DTN National Average Corn Index was down $4 from one week ago.

The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.073 million barrels per day (bpd) in the week ended March 29, up 19,000 bpd week-on-week to a five-week high and 70,000 bpd, or 6.5%, higher than in the same week last year. Four-week average output at 1.049 million bpd was 45,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.023 million bpd, up 16,000 bpd week-on-week and 66,000 bpd, or 6.5%, higher than in the same week last year. Four-week average output at 1 million bpd was 42,000 bpd above the same four weeks last year.

Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended April 4 was 1.17%. The value of DDG relative to soybean meal was 54.57 and the cost per unit of protein for DDG was $6.74 compared to the cost per unit of protein for soybean meal at $7.02.

According to U.S. Grains Council weekly DDGS export prices, barge CIF NOLA was down $11 versus last week, FOB Vessel Gulf was down $10, rail delivered PNW was down $13 and 40-foot containers to South Korea were down $16 versus one week ago.

USDA used Census Bureau data released Thursday to provide more details on exports of DDGS. U.S. exports of DDGS totaled 986,337 metric tons (mt) in February, up from 902,376 mt in January and up 29% from a year ago. Mexico was the top destination in February, taking 26% of U.S. exports and was followed by South Korea and Indonesia. In the first two months of 2024, DDGS exports were up 23% from a year ago.

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 4/4/2024 3/28/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $185 $185 $0
Wet $95 $95 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $185 $185 $0
Wet $80 $85 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $180 $185 -$5
Indiana Dry $160 $165 -$5
Iowa Dry $170 $170 $0
Michigan Dry $170 $175 -$5
Minnesota Dry $165 $170 -$5
New York Dry $200 $195 $5
South Dakota Dry $165 $170 -$5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $195 $200 -$5
Subject Iowa Dry $181 $181 $0
Michigan Dry $195 $200 -$5
Subject Minnesota Dry $175 $175 $0
Missouri Dry $200 $205 -$5
Ohio Dry $190 $195 -$5
South Dakota Dry $185 $190 -$5
Nebraska Dry $190 $195 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $185 $185 $0
Wet $55 $55 $0
Illinois SOLD OUT Dry $0 $0 $0
Nebraska Dry $185 $185 $0
Wet $55 $55 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $185 $185 $0
Indiana Dry $180 $180 $0
Iowa Dry $150 $150 $0
Michigan Dry $180 $180 $0
Minnesota Dry $170 $170 $0
Nebraska Dry $165 $165 $0
New York Dry $260 $260 $0
North Dakota Dry $175 $175 $0
Ohio Dry $180 $180 $0
South Dakota Dry $170 $170 $0
Wisconsin Dry $175 $175 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $175 $175 $0
Western Kansas
Kansas Dry $230 $230 $0
Wet $74 $74 $0
Western Milling
California Dry $260 $260 $0
**Weekly Average: $180 $182 -$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 4/4/2024 $4.3525 $155.4464
Soybean Meal 4/4/2024 $333.50
DDG Weekly Average Spot Price 4/4/2024 $182.00
DDG Value Relative to: 4/4 3/28
Corn 1.17% 1.13%
Soybean Meal 54.57% 48.84%
Cost Per Unit of Protein:
DDG $6.74 $7.19
Soybean Meal $7.02 $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 social platform X @MaryCKenn

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