Market Matters Blog

DTN Weekly DDG Price Lower on Average Again

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 June 6 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 June 6 was down $1 on average versus one week ago at $162 per ton. An increase in plant production again and slow demand pressured prices in some areas. 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 1.072 million barrels per day (bpd) in the week ended May 31, up 4,000 bpd week-on-week and 36,000 bpd, or 3.4%, higher than in the same week last year. Four-week average output at 1.04 million bpd was 38,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.012 million bpd, up 5,000 bpd week-on-week and 31,000 bpd, or 3.1%, higher than in the same week last year. Four-week average output at 984,000 bpd was 36,000 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 June 6 was 1%. The value of DDG relative to soybean meal was 44.65 and the cost per unit of protein for DDG was $6 compared to the cost per unit of protein for soybean meal at $7.64.

U.S. Grains Council in its weekly DDGS export market prices report showed May 29 CIF NOLA barge price was at $198 per metric ton, down $1 from last week and FOB vessel Gulf price was at $201, unchanged from last week. Rail delivered to the PNW was unchanged at $227 and rail delivered to California was down $5 per ton at $231 per metric ton.

USDA used Census Bureau data released Monday to provide more details for DDGS exports. USDA reported U.S. exports of DDGS totaled 970,164 metric tons (mt) in April, down from 1,055,692 mt in March, but up 25% from a year ago. Mexico was the top destination in April, taking 24% of U.S. exports and was followed by Indonesia and South Korea. In the first four months of 2024, DDGS exports were up 22% from a year ago.

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 6/6/2024 5/30/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $160 $165 -$5
Wet $85 $85 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $165 $165 $0
Wet $70 $70 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $165 $165 $0
Indiana Dry $140 $140 $0
Iowa Dry $155 $155 $0
Michigan Dry $145 $145 $0
Minnesota Dry $145 $145 $0
New York Dry $165 $165 $0
South Dakota Dry $155 $155 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $175 $175 $0
Iowa Subject Dry $175 $175 $0
Michigan Dry $180 $180 $0
Minnesota Subject Dry $165 $165 $0
Missouri Dry $180 $180 $0
Ohio Dry $175 $175 $0
South Dakota Dry $170 $170 $0
Nebraska Dry $175 $175 $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 $160 $164 -$4
Indiana Dry $145 $145 $0
Iowa Dry $145 $145 $0
Michigan Dry $150 $155 -$5
Minnesota Dry $145 $145 $0
Nebraska Dry $150 $160 -$10
New York Dry $180 $210 -$30
North Dakota Dry $150 $158 -$8
Ohio Dry $160 $165 -$5
South Dakota Dry $140 $148 -$8
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 $190 $0
Wet $68 $68 $0
Western Milling
California Dry $245 $245 $0
**Weekly Average: $162 $163 -$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 6/6/2024 $4.5200 $161.4286
Soybean Meal 6/6/2024 $362.80
DDG Weekly Average Spot Price 6/6/2024 $162.00
DDG Value Relative to: 6/6 5/30
Corn 1.00% 1.13%
Soybean Meal 44.65% 48.84%
Cost Per Unit of Protein:
DDG $6.00 $7.19
Soybean Meal $7.64 $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 the social platform X @MaryCKenn

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