Market Matters Blog

DTN Weekly DDG Price Slightly Lower 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 May 23 is down $1 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 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.

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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