Market Matters Blog
DTN Weekly DDG Price Lower on Average Again
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended May 2 was down $3 on average versus one week ago at $167 per ton. DDG prices were pushed lower again as demand has been slow and in spite of a rise in cash corn prices since last week. The DTN National Average Corn Index was up 11 cents versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 987,000 barrels per day (bpd) in the week ended April 26, the Energy information Administration reports, up 33,000 bpd week-on-week and 11,000 bpd, or 1.1% higher than in the same week last year. Four-week average output at 995,000 bpd was 13,000 bpd above the same four weeks last year. Midwest ethanol production averaged 930,000 bpd, up 27,000 bpd week-on-week and 8,000 bpd, or 0.9% higher than in the same week last year. Four-week average output at 941,000 bpd was 10,000 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 May 2 was 1.03%. The value of DDG relative to soybean meal was 46.77 and the cost per unit of protein for DDG was $6.19 compared to the cost per unit of protein for soybean meal at $7.52.
USDA used Census Bureau data released Thursday to provide more details for exports of DDGs. U.S. exports of DDGs totaled 1,055,692 metric tons (mt) in March, up from 986,337 mt in February and up 18% from a year ago. Mexico was the top destination in March, taking 16% of U.S. exports, and was followed by South Korea and Turkey. In the first three months of 2024, DDGs exports were up 21% from a year ago.
*All prices are subject to confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||||||
| COMPANY | STATE | 5/2/2024 | 4/25/2024 | ||||||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||||||
| Missouri | Dry | $170 | $175 | -$5 | |||||
| Wet | $85 | $87 | -$2 | ||||||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||||||
| Dry | $170 | $170 | $0 | ||||||
| Wet | $75 | $75 | $0 | ||||||
| CHS, Minneapolis, MN (800-769-1066) | |||||||||
| Illinois | Dry | $165 | $165 | $0 | |||||
| Indiana | Dry | $145 | $150 | -$5 | |||||
| Iowa | Dry | $150 | $155 | -$5 | |||||
| Michigan | Dry | $155 | $160 | -$5 | |||||
| Minnesota | Dry | $145 | $150 | -$5 | |||||
| New York | Dry | $185 | $190 | -$5 | |||||
| South Dakota | Dry | $150 | $155 | -$5 | |||||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||||||
| Indiana | Dry | $180 | $185 | -$5 | |||||
| Iowa | Dry | $170 | $170 | $0 | |||||
| Michigan | Dry | $180 | $185 | -$5 | |||||
| Minnesota | Dry | $160 | $160 | $0 | |||||
| Missouri | Dry | $190 | $195 | -$5 | |||||
| Ohio | Dry | $180 | $185 | -$5 | |||||
| South Dakota | Dry | $175 | $180 | -$5 | |||||
| Nebraska | Dry | $180 | $185 | -$5 | |||||
| United BioEnergy, Wichita, KS (316-616-3521) | |||||||||
| Kansas | Dry | $190 | $190 | $0 | |||||
| Wet | $55 | $55 | $0 | ||||||
| Illinois SOLD OUT | Dry | $0 | $0 | $0 | |||||
| Nebraska | Dry | $190 | $190 | $0 | |||||
| Wet | $55 | $55 | $0 | ||||||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||||||
| Illinois | Dry | $169 | $170 | -$1 | |||||
| Indiana | Dry | $165 | $170 | -$5 | |||||
| Iowa | Dry | $145 | $150 | -$5 | |||||
| Michigan | Dry | $165 | $170 | -$5 | |||||
| Minnesota | Dry | $145 | $145 | $0 | |||||
| Nebraska | Dry | $160 | $160 | $0 | |||||
| New York | Dry | $225 | $225 | $0 | |||||
| North Dakota | Dry | $160 | $160 | $0 | |||||
| Ohio | Dry | $170 | $175 | -$5 | |||||
| South Dakota | Dry | $150 | $155 | -$5 | |||||
| Wisconsin | Dry | $165 | $165 | $0 | |||||
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||||||
| Dry | $165 | $165 | $0 | ||||||
| Western Kansas | |||||||||
| Kansas | Dry | $210 | $210 | $0 | |||||
| Wet | $74 | $74 | $0 | ||||||
| Western Milling | |||||||||
| California | Dry | $255 | $260 | -$5 | |||||
| **Weekly Average: | $167 | $170 | -$3 | ||||||
| (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 | 5/2/2024 | $4.5200 | $161.4286 | ||||||
| Soybean Meal | 5/2/2024 | $357.10 | |||||||
| DDG Weekly Average Spot Price | 5/2/2024 | $167.00 | |||||||
| DDG Value Relative to: | 5/2 | 4/25 | |||||||
| Corn | 1.03% | 1.13% | |||||||
| Soybean Meal | 46.77% | 48.84% | |||||||
| Cost Per Unit of Protein: | |||||||||
| DDG | $6.19 | $7.19 | |||||||
| Soybean Meal | $7.52 | $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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