Market Matters Blog

DTN Weekly DDG Average Price Slightly Lower

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
Connect with Mary:
DTN's weekly spot price for domestic distillers dried grains for the week ended March 16 was $1 lower on average than one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 35 locations reporting for the week ended March 16 was $261 per ton, down $1 from one week ago. Prices were steady to mixed but slightly lower on average. While the cash corn price continues to move lower, DDG remains competitive with other feedstuffs. The DTN National Corn Index is down 25 cents versus one week ago.

The Energy Information Administration (EIA) at midweek showed overall ethanol production in the United States rose 4,000 barrels per day (bpd) to a three-week high 1.014 million bpd last week, 1.2% below the same week in 2022. Four-week average output at 1.014 million bpd -- 5,000 bpd less than the same four-week average production last year. In the Midwest PADD 2, ethanol production gained 2,000 bpd to 966,000 bpd, 0.5% below a year ago.

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 March 16 was 1.15%. The value of DDG relative to soybean meal was 55.06%, and the cost per unit of protein for DDG was $9.67 compared to the cost per unit of protein for soybean meal at $9.98.

In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA offers are steady for spot positions and $2 to $3 metric ton (mt) higher for May and June due to another week of rising barge freight. FOB NOLA offers are also $2 higher for Q2 positions and average $346 mt for April. This week's offers for 40-foot containers to Southeast Asia are $3 higher amid firming ocean freight values and average $395 for Q2 shipment."

NOTE: All prices listed below can change at any time and are subject to confirmation from seller.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT CURRENT CHANGE
COMPANY STATE 3/16/2023 3/9/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $275 $300 -$25
Wet $165 $165 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $285 $285 $0
Wet $155 $155 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $250 $250 $0
Indiana Dry $245 $245 $0
Iowa Dry $250 $250 $0
Michigan Dry $245 $245 $0
Minnesota Dry $250 $250 $0
New York Dry $270 $270 $0
South Dakota Dry $255 $255 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $262 $257 $5
Wet $92 $90 $2
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $270 $265 $5
Iowa Dry $270 $270 $0
Michigan Dry $270 $265 $5
Minnesota Dry $270 $270 $0
Missouri Dry $278 $280 -$2
Ohio Dry $265 $265 $0
South Dakota Dry $275 $275 $0
Nebraska Dry $280 $290 -$10
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $285 $285 $0
Wet* $120 $120 $0
Illinois Dry $255 $255 $0
Nebraska Dry $285 $285 $0
Wet* $120 $120 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $250 $250 $0
Indiana Dry $245 $245 $0
Iowa Dry $240 $245 -$5
Michigan Dry $250 $250 $0
Minnesota Dry $250 $250 $0
Nebraska Dry $275 $275 $0
New York Dry $280 $280 $0
North Dakota Dry $260 $260 $0
Ohio Dry $255 $255 $0
South Dakota Dry $255 $255 $0
Wisconsin Dry $245 $245 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $235 $235 $0
Western Kansas Dry $265 $265 $0
Wet $100 $110 -$10
**Weekly Average: $261 $262 -$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 3/16/2023 $6.3275 $225.9822
Soybean Meal 3/16/2023 $474.00
DDG Weekly Average Spot Price 3/16/2023 $261.00
DDG Value Relative to: 3/16 3/9
Corn 1.15% 1.19%
Soybean Meal 55.06% 52.52%
Cost Per Unit of Protein:
DDG $9.67 $9.70
Soybean Meal $9.98 $10.50
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

P[] D[728x170] M[320x75] OOP[F] ADUNIT[] T[]
P[L2] D[728x90] M[320x50] OOP[F] ADUNIT[] T[]

Comments

To comment, please Log In or Join our Community .