Market Matters Blog
DTN Weekly DDG Price Slightly Lower on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended May 23 was down $1 on average versus one week ago at $164 per ton. DDG prices were mostly steady but lower on average. As plant production increases, supplies are plentiful while demand is slow for nearby, according to merchandisers. The DTN National Average Corn Index was up 7 cents versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.019 million barrels per day (bpd), up 19,000 bpd week-on-week as of May 17, while 36,000 bpd, or 3.5%, higher than in the same week last year. Four-week average output at 993,000 bpd was 15,000 bpd above the same four weeks last year. Midwest ethanol production averaged 964,000 bpd, up 10,000 bpd week-on-week and 33,000 bpd, or 3.4%, higher than in the same week last year. Four-week average output at 940,000 bpd was 16,000 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 May 23 was 0.99%. The value of DDG relative to soybean meal was 43.54 and the cost per unit of protein for DDG was $6.07 compared to the cost per unit of protein for soybean meal at $7.93.
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U.S. Grains Council in their weekly DDGS export market prices report showed May 22 CIF NOLA barge price was at $199 per metric ton, up $3 versus last week and FOB vessel Gulf price was at $200, up $2 per metric ton. Rail delivered to the PNW was down $9 at $230 and rail delivered to California was unchanged versus last week at $236 per metric ton.
Barge lines reporting that river levels are steadily falling throughout the Upper Mississippi River and Ohio River. Water levels are still rising on the Lower Mississippi River around Baton Rouge and below. The water level at Baton Rouge is at 33.52 feet, near minor flood stage of 35 feet. Safety protocols remain in place.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 5/23/2024 | 5/16/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $170 | $170 | $0 | |
| Wet | $85 | $85 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $165 | $175 | -$10 | ||
| Wet | $70 | $70 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $170 | $170 | $0 | |
| Indiana | Dry | $140 | $145 | -$5 | |
| Iowa | Dry | $155 | $155 | $0 | |
| Michigan | Dry | $145 | $150 | -$5 | |
| Minnesota | Dry | $150 | $150 | $0 | |
| New York | Dry | $170 | $170 | $0 | |
| South Dakota | Dry | $160 | $160 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $175 | $175 | $0 | |
| Iowa Subject | Dry | $170 | $175 | -$5 | |
| Michigan | Dry | $180 | $180 | $0 | |
| Minnesota | Dry | $165 | $165 | $0 | |
| Missouri Subject | Dry | $190 | $190 | $0 | |
| Ohio | Dry | $175 | $175 | $0 | |
| South Dakota Subj. | Dry | $175 | $175 | $0 | |
| Nebraska | Dry | $180 | $180 | $0 | |
| 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 | $164 | $164 | $0 | |
| Indiana | Dry | $145 | $145 | $0 | |
| Iowa | Dry | $145 | $145 | $0 | |
| Michigan | Dry | $155 | $155 | $0 | |
| Minnesota | Dry | $145 | $145 | $0 | |
| Nebraska | Dry | $160 | $160 | $0 | |
| New York | Dry | $210 | $210 | $0 | |
| North Dakota | Dry | $158 | $158 | $0 | |
| Ohio | Dry | $165 | $165 | $0 | |
| South Dakota | Dry | $148 | $148 | $0 | |
| Wisconsin | Dry | $150 | $150 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| FOB Pickett | Dry | $160 | $160 | $0 | |
| Western Kansas | |||||
| Kansas | Dry | $190 | $195 | -$5 | |
| Wet | $68 | $68 | $0 | ||
| Western Milling | |||||
| California Subject | Dry | $255 | $255 | $0 | |
| **Weekly Average: | $164 | $165 | -$1 | ||
| (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 | 5/23/2024 | $4.6400 | $165.7143 |
| Soybean Meal | 5/23/2024 | $376.70 | |
| DDG Weekly Average Spot Price | 5/23/2024 | $164.00 | |
| DDG Value Relative to: | 5/23 | 5/16 | |
| Corn | 0.99% | 1.13% | |
| Soybean Meal | 43.54% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $6.07 | $7.19 | |
| Soybean Meal | $7.93 | $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 @MaryCKenn on the social platform X
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