Market Matters Blog
DTN Weekly DDG Average Price Higher
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended Dec. 8 was $241 per ton, up $6 on average versus one week ago. DDG prices were mixed but higher on average thanks to the surge in soymeal prices adding support. There is also good demand in the domestic and export markets, with exports finding strength from the improvement in the Lower Mississippi River levels.
The Energy Information Administration (EIA) Wednesday showed that through Dec. 2, plant production ramped up 59,000 barrels per day (bpd) to a 1.077 million bpd 2022 high, with the previous high realized in December 2021 at 1.087 million bpd. During the four weeks ended Dec. 2, U.S. ethanol plant production averaged 1.037 million bpd, 29,000 bpd or 2.7% below the corresponding four weeks in 2021.
P[L1] D[0x0] M[300x250] OOP[F] ADUNIT[] T[]
Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended Dec. 8 was 1.07%. The value of DDG relative to soybean meal was 51.35%, and the cost per unit of protein for DDG was $8.93 compared to the cost per unit of protein for soybean meal at $9.88.
In its weekly DDGS export update, the U.S. Grains Council said: "On the export market, Barge CIF NOLA prices reversed last week's weakness and are trading $17 to $19 metric ton (mt) higher with December offers at $333/mt. Offers for FOB NOLA DDGS are similarly higher this week at $340 for spot shipment while Q1 2023 positions are up $7 to $10/mt. Offers for 40-foot containers to Southeast Asia are up $18 to $21/mt this week with spot values averaging $409/mt."
USDA on Tuesday reported that U.S. exports of DDGS totaled 798,100 mt in October, down from 877,745 mt in September and down 25% from a year ago. Mexico was the top destination in October, taking 19% of U.S. exports, and was followed by South Korea and Vietnam. So far in 2022, U.S. exports of DDGS were down 2% from a year ago.
NOTE: All prices listed below can change at any time and are subject to confirmation from seller.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 12/8/2022 | 12/1/2022 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $265 | $255 | $10 | |
| Wet | $160 | $155 | $5 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $260 | $250 | $10 | ||
| Wet | $140 | $135 | $5 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $230 | $225 | $5 | |
| Indiana | Dry | $215 | $210 | $5 | |
| Iowa | Dry | $230 | $220 | $10 | |
| Michigan | Dry | $215 | $210 | $5 | |
| Minnesota | Dry | $215 | $205 | $10 | |
| New York | Dry | $250 | $250 | $0 | |
| South Dakota | Dry | $250 | $235 | $15 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $270 | $250 | $20 | ||
| Wet | $96 | $96 | $0 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $225 | $235 | -$10 | |
| Iowa | Dry | $260 | $250 | $10 | |
| Michigan | Dry | $230 | $225 | $5 | |
| Minnesota | Dry | $255 | $245 | $10 | |
| Missouri | Dry | $270 | $270 | $0 | |
| Ohio | Dry | $225 | $229 | -$4 | |
| South Dakota | Dry | $265 | $255 | $10 | |
| Nebraska | Dry | $275 | $270 | $5 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $290 | $290 | $0 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| Illinois | Dry | $230 | $230 | $0 | |
| Nebraska | Dry | $290 | $290 | $0 | |
| Call for Available | Wet* | $0 | $0 | $0 | |
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $230 | $220 | $10 | |
| Indiana | Dry | $215 | $205 | $10 | |
| Iowa | Dry | $220 | $210 | $10 | |
| Michigan | Dry | $220 | $215 | $5 | |
| Minnesota | Dry | $220 | $210 | $10 | |
| Nebraska | Dry | $260 | $255 | $5 | |
| New York | Dry | $255 | $250 | $5 | |
| North Dakota | Dry | $260 | $250 | $10 | |
| Ohio | Dry | $225 | $220 | $5 | |
| South Dakota | Dry | $225 | $215 | $10 | |
| Wisconsin | Dry | $210 | $205 | $5 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $220 | $220 | $0 | ||
| Western Kansas | Dry | $265 | $265 | $0 | |
| Wet | $110 | $110 | $0 | ||
| Western Milling, Goshen, California (559-302-1074) | |||||
| California | Dry | $345 | $343 | $2 | |
| **Weekly Average: | $241 | $235 | $6 | ||
| (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 | 12/8/2022 | $6.3200 | $225.7143 |
| Soybean Meal | 12/8/2022 | $469.30 | |
| DDG Weekly Average Spot Price | $241.00 | ||
| DDG Value Relative to: | 12/8/2022 | 12/1/2022 | |
| Corn | 1.07% | 1.01% | |
| Soybean Meal | 51.35% | 55.83% | |
| Cost Per Unit of Protein: | |||
| DDG | $8.93 | $8.70 | |
| Soybean Meal | $9.88 | $8.86 | |
| 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 Twitter @MaryCKenn
(c) Copyright 2022 DTN, LLC. All rights reserved.
Comments
To comment, please Log In or Join our Community .