Market Matters Blog
DTN Weekly DDG Price Higher Again on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Nov. 7 was up $2 on average at $152 per ton versus one week ago. DDG prices were mixed but higher on average again for the week as higher cash corn prices were supportive even as soybean meal prices were weaker. The DTN National Average Corn Index was up 21 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 Nov. 7 was 0.996%. The value of DDG relative to soybean meal was 50.92% and the cost per unit of protein for DDG was $5.63 compared to the cost per unit of protein for soybean meal at $6.28.
U.S. Grains Council in its weekly DDGS export market prices report showed as of Nov. 6, CIF NOLA barge price was up $1 at $188 metric ton (mt), FOB vessel Gulf price was up $8 at $201 mt; rail delivered PNW was up $3 at $214, and rail delivered to California was up $13 at $222 mt.
The U.S. Energy Information Administration reported Overall ethanol production in the United States averaged 1.105 million bpd for the week ending Nov.1, up 23,000 barrels per day (bpd) week-on-week and the highest level since the week ended July 26. Weekly production was 63,000 bpd, or 5.7%, higher than in the same week last year. EIA reports four-week average output at 1.077 million bpd was 35,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.042 million bpd, up 19,000 bpd week-on-week and 56,000 bpd, or 5.4%, higher than in the same week last year. Four-week average output at 1.016 million bpd was 28,000 bpd above the same four weeks last year.
USDA used Census Bureau data released this week to provide more details for exports of DDGS, saying U.S. exports of DDGS totaled 1,012,119 mt in September, down from 1,119,768 mt in August and down 2% from a year ago. Mexico was the top destination in September, taking 18% of U.S. exports, and was followed by South Korea and Turkey. Through nine months of 2024, DDGS exports are up 13% from a year ago.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||||||
| COMPANY | STATE | 11/7/2024 | 10/31/2024 | ||||||
| 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 | $80 | $75 | $5 | ||||||
| CHS, Minneapolis, MN (800-769-1066) | |||||||||
| Illinois | Dry | $155 | $150 | $5 | |||||
| Indiana | Dry | $135 | $130 | $5 | |||||
| Iowa | Dry | $140 | $138 | $2 | |||||
| Michigan | Dry | $135 | $135 | $0 | |||||
| Minnesota | Dry | $140 | $135 | $5 | |||||
| New York | Dry | $145 | $160 | -$15 | |||||
| South Dakota | Dry | $145 | $145 | $0 | |||||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||||||
| Indiana | Dry | $160 | $155 | $5 | |||||
| Iowa | Dry | $155 | $155 | $0 | |||||
| Michigan | Dry | $160 | $155 | $5 | |||||
| Minnesota | Dry | $150 | $150 | $0 | |||||
| Missouri Subject | Dry | $160 | $160 | $0 | |||||
| Ohio | Dry | $160 | $155 | $5 | |||||
| South Dakota Subj. | Dry | $155 | $155 | $0 | |||||
| Nebraska Subject | Dry | $163 | $163 | $0 | |||||
| United BioEnergy, Wichita, KS (316-616-3521) | |||||||||
| Kansas | Dry | $175 | $175 | $0 | |||||
| Wet | $80 | $80 | $0 | ||||||
| Illinois | Dry | $155 | $155 | $0 | |||||
| Nebraska | Dry | $175 | $175 | $0 | |||||
| Wet | $80 | $80 | $0 | ||||||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||||||
| Illinois | Dry | $150 | $145 | $5 | |||||
| Indiana | Dry | $140 | $140 | $0 | |||||
| Iowa | Dry | $140 | $135 | $5 | |||||
| Michigan | Dry | $145 | $140 | $5 | |||||
| Minnesota | Dry | $140 | $135 | $5 | |||||
| Nebraska | Dry | $165 | $160 | $5 | |||||
| New York | Dry | $170 | $165 | $5 | |||||
| North Dakota | Dry | $145 | $145 | $0 | |||||
| Ohio | Dry | $150 | $145 | $5 | |||||
| South Dakota | Dry | $135 | $130 | $5 | |||||
| Wisconsin | Dry | $140 | $135 | $5 | |||||
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||||||
| FOB Pickett | Dry | $140 | $145 | -$5 | |||||
| Western Kansas | |||||||||
| Kansas | Dry | $182 | $182 | $0 | |||||
| Wet | $72 | $72 | $0 | ||||||
| Western Milling | |||||||||
| California | Dry | $225 | $210 | $15 | |||||
| **Weekly Average: | $152 | $150 | $2 | ||||||
| (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 | 11/7/2024 | $4.2750 | $152.6786 | ||||||
| Soybean Meal | 11/7/2024 | $298.50 | |||||||
| DDG Weekly Average Spot Price | 11/7/2024 | $152.00 | |||||||
| DDG Value Relative to: | 11/7 | 10/31 | |||||||
| Corn | 0.996% | 1.023% | |||||||
| Soybean Meal | 50.92% | 50.08% | |||||||
| 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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