Market Matters Blog
DTN Weekly Average DDG Price Falls Versus Two Weeks Ago
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended July 11 was down $8 on average at $149 per ton versus two weeks ago. It's been rough for the cash corn price since the June 28 acreage report, which added pressure to DDG prices. The DTN National Average Corn Index was down 11 cents versus two weeks ago.
The U.S. Energy Information Administration reported overall ethanol production in the United States averaged 1.054 million barrels per day (bpd) in the week ended July 5, down 10,000 bpd week-on-week and 22,000 bpd, or 2.1%, higher than in the same week last year. Four-week average output at 1.055 million bpd was 6,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.001 million bpd, down 7,000 bpd week-on-week and 31,000 bpd, or 3.1%, higher than in the same week last year. Four-week average output at 999,000 bpd was 12,000 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 July 11 was 1.03%. The value of DDG relative to soybean meal was 39.38 and the cost per unit of protein for DDG was $5.52 compared to the cost per unit of protein for soybean meal at $7.97.
U.S. Grains Council in its weekly DDGS export market prices report showed July 10 CIF NOLA barge price was at $197 per metric ton, up $4 from 2 weeks ago and FOB vessel Gulf price was at $196, up $1, rail delivered PNW was down 3 cents at $231 and rail delivered to California was down 9 cents at $224 per metric ton.
USDA used Census Bureau data released last week to provide more details for U.S. exports of DDGS, showing exports totaled 1,012,366 metric tons (mt) in May, up from 970,164 mt in April and up 5% from a year ago. Mexico was the top destination in May, taking 20% of U.S. exports and was followed by South Korea and Indonesia. In the first five months of 2024, DDGS exports were up 19% from a year ago.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 7/11/2024 | 6/27/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $155 | $158 | -$3 | |
| Wet | $80 | $80 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $155 | $165 | -$10 | ||
| Wet | $60 | $70 | -$10 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $155 | $165 | -$10 | |
| Indiana | Dry | $130 | $138 | -$8 | |
| Iowa | Dry | $140 | $150 | -$10 | |
| Michigan | Dry | $130 | $140 | -$10 | |
| Minnesota | Dry | $130 | $145 | -$15 | |
| New York | Dry | $140 | $150 | -$10 | |
| South Dakota | Dry | $135 | $140 | -$5 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $170 | $170 | $0 | |
| Iowa | Dry | $160 | $165 | -$5 | |
| Michigan | Dry | $165 | $165 | $0 | |
| Minnesota | Dry | $155 | $160 | -$5 | |
| Missouri | Dry | $165 | $170 | -$5 | |
| Ohio | Dry | $170 | $170 | $0 | |
| South Dakota | Dry | $160 | $165 | -$5 | |
| Nebraska | Dry | $155 | $160 | -$5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $170 | $185 | -$15 | |
| Wet | $75 | $60 | $15 | ||
| Illinois SOLD OUT | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $170 | $185 | -$15 | |
| Wet | $75 | $60 | $15 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $155 | $160 | -$5 | |
| Indiana | Dry | $145 | $145 | $0 | |
| Iowa | Dry | $120 | $140 | -$20 | |
| Michigan | Dry | $145 | $150 | -$5 | |
| Minnesota | Dry | $140 | $145 | -$5 | |
| Nebraska | Dry | $140 | $150 | -$10 | |
| New York | Dry | $160 | $180 | -$20 | |
| North Dakota | Dry | $125 | $140 | -$15 | |
| Ohio | Dry | $150 | $160 | -$10 | |
| South Dakota | Dry | $120 | $129 | -$9 | |
| Wisconsin | Dry | $140 | $150 | -$10 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| FOB Pickett | Dry | $150 | $155 | -$5 | |
| Western Kansas | |||||
| Kansas | Dry | $182 | $185 | -$3 | |
| Wet | $68 | $70 | -$2 | ||
| Western Milling | |||||
| California | Dry | $228 | $240 | -$12 | |
| **Weekly Average: | $149 | $157 | -$8 | ||
| (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 | 7/11/2024 | $4.0675 | $145.2679 |
| Soybean Meal | 7/11/2024 | $378.40 | |
| DDG Weekly Average Spot Price | 7/11/2024 | $149.00 | |
| DDG Value Relative to: | 7/11 | 7/4 | |
| Corn | 1.03% | 1.13% | |
| Soybean Meal | 39.38% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $5.52 | $7.19 | |
| Soybean Meal | $7.97 | $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 | |||
Mary Kennedy can be reached at mary.kennedy@dtn.com
Follow her on the social platform X @MaryCKenn
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