Market Matters Blog
DTN Weekly DDG Price Lower Again on Average
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.
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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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