Market Matters Blog
DTN Weekly DDG Price Higher on Average
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Dec. 5 was up $1 on average at $154 per ton versus two weeks ago. DDG prices were mixed but higher on average for the week, while bean meal prices have been under pressure again. The cash corn price versus two weeks ago was higher, which is supportive to DDG prices for now. The DTN National Average Corn Index was up 5 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 Dec. 5 was 1.01%. The value of DDG relative to soybean meal was 53.58% and the cost per unit of protein for DDG was $5.7 compared to the cost per unit of protein for soybean meal at $6.05. (Still using DEC futures.)
U.S. Grains Council in its weekly distillers dried grains with solubles (DDGS) export market prices report showed as of Dec. 4, January CIF NOLA barge price was up $7 at $189 metric ton (mt) (versus Nov. 20); FOB vessel Gulf price was up $4 at $196 mt; rail delivered PNW was down $2 at $211; and rail delivered to California was unchanged at $224 mt.
The U.S. Energy Information Administration reported overall ethanol production in the United States averaged 1.073 million barrels per day (bpd) in the week ended Nov. 29, down 46,000 bpd week-on-week and 3,000 bpd, or 0.3%, lower than in the same week last year. Four-week average output at 1.104 million bpd was 64,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.014 million bpd, down 34,000 bpd week-on-week and 6,000 bpd, or 0.6%, lower than in the same week last year. Four-week average output at 1.038 million bpd was 58,000 bpd above the same four weeks last year.
USDA used Census Bureau data released this past week to provide more details for exports of DDGS, noting U.S. exports of DDGS totaled 1,114,373 mt in October, up from 1,012,119 mt in September and up 25% from a year ago. Mexico was the top destination in October, taking 21% of U.S. exports and was followed by Colombia and South Korea. In the first eight months of 2024, DDGS exports are up 14% from a year ago.
Note: All prices subject to change/confirmation.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | CURRENT | CHANGE | ||
| COMPANY | STATE | 12/6/2024 | 11/21/2024 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $162 | $162 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $160 | $165 | -$5 | ||
| Wet | $80 | $80 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $150 | $152 | -$2 | |
| Indiana | Dry | $138 | $140 | -$2 | |
| Iowa | Dry | $140 | $140 | $0 | |
| Michigan | Dry | $140 | $145 | -$5 | |
| Minnesota | Dry | $145 | $140 | $5 | |
| New York | Dry | $160 | $150 | $10 | |
| South Dakota | Dry | $150 | $145 | $5 | |
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $165 | $165 | $0 | |
| Iowa | Dry | $160 | $155 | $5 | |
| Michigan | Dry | $165 | $165 | $0 | |
| Minnesota | Dry | $155 | $150 | $5 | |
| Missouri | Dry | $160 | $160 | $0 | |
| Ohio | Dry | $165 | $165 | $0 | |
| South Dakota | Dry | $155 | $155 | $0 | |
| Nebraska | Dry | $163 | $163 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $175 | $175 | $0 | |
| Wet | $80 | $80 | $0 | ||
| Illinois | Dry | $154 | $155 | -$1 | |
| Nebraska | Dry | $175 | $175 | $0 | |
| Wet | $80 | $80 | $0 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $150 | $150 | $0 | |
| Indiana | Dry | $140 | $140 | $0 | |
| Iowa | Dry | $140 | $140 | $0 | |
| Michigan | Dry | $145 | $145 | $0 | |
| Minnesota | Dry | $145 | $140 | $5 | |
| Nebraska | Dry | $150 | $150 | $0 | |
| New York | Dry | $170 | $170 | $0 | |
| North Dakota | Dry | $160 | $145 | $15 | |
| Ohio | Dry | $150 | $150 | $0 | |
| South Dakota | Dry | $150 | $145 | $5 | |
| Wisconsin | Dry | $140 | $140 | $0 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| FOB Pickett | Dry | $140 | $140 | $0 | |
| Western Kansas | |||||
| Kansas | Dry | $185 | $182 | $3 | |
| Wet | $72 | $74 | -$2 | ||
| Western Milling | |||||
| California | Dry | $225 | $214 | $11 | |
| **Weekly Average: | $154 | $153 | $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 | 12/5/2024 | $4.2650 | $152.3214 |
| Soybean Meal | 12/5/2024 | $287.40 | |
| DDG Weekly Average Spot Price | 12/5/2024 | $154.00 | |
| DDG Value Relative to: | 12/5 | 11/28 | |
| Corn | 1.011% | 1.004% | |
| Soybean Meal | 53.58% | 53.18% | |
| Cost Per Unit of Protein: | |||
| DDG | 5.70 | 5.67 | |
| Soybean Meal | 6.05 | 6.06 | |
| 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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