Market Matters Blog
DTN Weekly DDG Price Steady on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Oct. 10 was steady on average at $145 per ton versus one week ago. DDG prices overall were mixed but steady for the week on average in spite of the lower cash corn and soybean meal prices. The DTN National Average Corn Index was down 10 cents versus one week ago.
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Oct. 10 was 0.97%. The value of DDG relative to soybean meal was 45.67 and the cost per unit of protein for DDG was $5.37 compared to the cost per unit of protein for soybean meal at $6.68.
U.S. Grains Council in its weekly DDGS export market prices report showed as of Oct. 9, CIF NOLA barge price was at $179 metric ton (mt), up $1 versus one week ago, and FOB vessel Gulf price was steady at $195; rail delivered PNW was up $5 at $215, and rail delivered to California was up $2 at $214 mt.
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USDA used Census Bureau data released earlier this week to provide more details for exports of DDGS. U.S. exports of DDGS totaled 1,119,768 mt in August, up from 1,090,004 mt in July and up 19% from a year ago. South Korea was the top destination in August, taking 15% of U.S. exports and was followed by Mexico and Turkey. In the first eight months of 2024, DDGS exports were up 15% from a year ago.
The U.S. Energy Information Administration reported overall ethanol production in the United States averaged 1.038 million bpd in the week ended Oct. 4, the Energy Information Administration reports, up 23,000 bpd week-on-week and 34,000 bpd, or 3.3% higher than in the same week last year. Four-week average output at 1.024 million bpd was 24,000 bpd above the same four weeks last year. Midwest ethanol production averaged 979,000 bpd, up 18,000 bpd week-on-week and 29,000 bpd, or 3% higher than in the same week last year. Four-week average output at 965,000 bpd was 19,000 bpd above the same four weeks last year.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||
| COMPANY | STATE | 10/10/2024 | 10/3/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $165 | $165 | $0 | |
| Wet | $80 | $80 | $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 | $150 | $150 | $0 | |
| Indiana | Dry | $120 | $125 | -$5 | |
| Iowa | Dry | $135 | $135 | $0 | |
| Michigan | Dry | $130 | $130 | $0 | |
| Minnesota | Dry | $135 | $135 | $0 | |
| New York | Dry | $160 | $135 | $25 | |
| South Dakota | Dry | $145 | $145 | $0 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $150 | $150 | $0 | |
| Iowa | Dry | $150 | $150 | $0 | |
| Michigan | Dry | $150 | $150 | $0 | |
| Minnesota | Dry | $145 | $145 | $0 | |
| Missouri | Dry | $160 | $160 | $0 | |
| Ohio | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $150 | $150 | $0 | |
| Nebraska | Dry | $160 | $160 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $165 | $165 | $0 | |
| Wet | $70 | $70 | $0 | ||
| Illinois | Dry | $152 | $152 | $0 | |
| Nebraska | Dry | $165 | $165 | $0 | |
| Wet | $70 | $70 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $135 | $135 | $0 | |
| Indiana | Dry | $130 | $130 | $0 | |
| Iowa | Dry | $120 | $120 | $0 | |
| Michigan | Dry | $135 | $135 | $0 | |
| Minnesota | Dry | $120 | $120 | $0 | |
| Nebraska | Dry | $160 | $145 | $15 | |
| New York | Dry | $160 | $160 | $0 | |
| North Dakota | Dry | $135 | $135 | $0 | |
| Ohio | Dry | $145 | $145 | $0 | |
| South Dakota | Dry | $125 | $125 | $0 | |
| Wisconsin | Dry | $130 | $130 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| FOB Pickett | Dry | $145 | $145 | $0 | |
| Western Kansas | |||||
| Kansas | Dry | $185 | $185 | $0 | |
| Wet | $72 | $72 | $0 | ||
| Western Milling | |||||
| California | Dry | $235 | $235 | $0 | |
| **Weekly Average: | $145 | $145 | $0 | ||
| (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 | 10/10/2024 | $4.1850 | $149.4643 |
| Soybean Meal | 10/10/2024 | $317.50 | |
| DDG Weekly Average Spot Price | 10/10/2024 | $145.00 | |
| DDG Value Relative to: | 10/10 | 10/3 | |
| Corn | 0.97% | 1.13% | |
| Soybean Meal | 45.67% | 48.84% | |
| Cost Per Unit of Protein: | |||
| DDG | $5.37 | $7.19 | |
| Soybean Meal | $6.68 | $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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