Market Matters Blog
DTN Weekly DDG Price Lower Again on Average
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended June 8 was $207 per ton, down $10 on average from one week ago. The rise in ethanol production again last week is keeping plants well supplied with DDG, adding pressure to spot prices.
The Energy Information Administration (EIA) at midweek showed overall ethanol production in the United States averaged 1.036 million barrels per day (bpd) as of June 2, up 32,000 bpd week-on-week and 3,000 bpd, or 0.3%, lower than in the same week last year. Four-week average output at 1.002 million bpd was 27,000 bpd below the same four weeks in 2022. Midwest ethanol production averaged 981,000 bpd, up 32,000 bpd week-on-week and 4,000 bpd, or 0.4%, lower than in the same week last year. Four-week average output at 948,000 bpd was 24,000 bpd below the same four weeks in 2022.
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Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended June 8 was 0.95%. The value of DDG relative to soybean meal was 51.24 and the cost per unit of protein for DDG was $7.67 compared to the cost per unit of protein for soybean meal at $8.51.
In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF NOLA values dropped again this week with offers for July falling $8 metric ton (mt) while FOB NOLA offers are down $6 for July. U.S. rail rates are down significantly this week for product delivered to the PNW and California where a port strike is occurring. Offers for 40-foot containers to Southeast Asia are down an average of $21. The smallest reductions have been for the KC railyard and Elwood railyards."
U.S. exports of DDGS totaled 777,617 mt in April, down from 898,086 mt in March and down 4% from a year ago, according to USDA. Mexico was the top destination in April, taking 20% of U.S. exports and was followed by South Korea and Indonesia. In the first four months of 2023, exports of DDGS were down 13% from a year ago.
NOTE: All prices listed below can change at any time and are subject to confirmation from sellers.
| ALL PRICES SUBJECT TO CONFIRMATION | CURRENT | PREVIOUS | CHANGE | ||
| COMPANY | STATE | 6/8/2023 | 6/1/2023 | ||
| Bartlett and Company, Kansas City, MO (816 714 3413) | |||||
| Missouri | Dry | $235 | $245 | -$10 | |
| Wet | $140 | $150 | -$10 | ||
| Show Me Ethanol LLC, Carrollton, MO (660-542-6493) | |||||
| Dry | $215 | $225 | -$10 | ||
| Wet | $115 | $115 | $0 | ||
| CHS, Minneapolis, MN (800-769-1066) | |||||
| Illinois | Dry | $200 | $208 | -$8 | |
| Indiana | Dry | $200 | $200 | $0 | |
| Iowa | Dry | $200 | $210 | -$10 | |
| Michigan | Dry | $185 | $200 | -$15 | |
| Minnesota | Dry | $195 | $205 | -$10 | |
| New York | Dry | $225 | $225 | $0 | |
| South Dakota | Dry | $205 | $215 | -$10 | |
| MGP Ingredients, Atchison, KS (800-255-0302) | |||||
| Dry | $216 | $220 | -$4 | ||
| Wet | $60 | $75 | -$15 | ||
| POET Nutrition, Sioux Falls, SD (888-327-8799) | |||||
| Indiana | Dry | $235 | $235 | $0 | |
| Iowa | Dry | $230 | $235 | -$5 | |
| Michigan | Dry | $230 | $230 | $0 | |
| Minnesota | Dry | $225 | $230 | -$5 | |
| Missouri | Dry | $245 | $245 | $0 | |
| Ohio | Dry | $230 | $230 | $0 | |
| South Dakota | Dry | $240 | $240 | $0 | |
| Nebraska | Dry | $250 | $250 | $0 | |
| United BioEnergy, Wichita, KS (316-616-3521) | |||||
| Kansas | Dry | $255 | $265 | -$10 | |
| Wet* | $105 | $115 | -$10 | ||
| Ill SOLD OUT JUNE | Dry | $0 | $0 | $0 | |
| Nebraska | Dry | $255 | $265 | -$10 | |
| Wet* | $105 | $115 | -$10 | ||
| U.S. Commodities, Minneapolis, MN (888-293-1640) | |||||
| Illinois | Dry | $190 | $215 | -$25 | |
| Indiana | Dry | $195 | $210 | -$15 | |
| Iowa | Dry | $185 | $200 | -$15 | |
| Michigan | Dry | $200 | $215 | -$15 | |
| Minnesota | Dry | $195 | $200 | -$5 | |
| Nebraska | Dry | $202 | $235 | -$33 | |
| New York | Dry | $240 | $260 | -$20 | |
| North Dakota | Dry | $195 | $210 | -$15 | |
| Ohio | Dry | $202 | $225 | -$23 | |
| South Dakota | Dry | $195 | $210 | -$15 | |
| Wisconsin | Dry | $190 | $200 | -$10 | |
| Fox River Valley Ethanol, Oshkosh WI 715-709-0269 | |||||
| Dry | $195 | $200 | -$5 | ||
| Western Kansas | Dry | $245 | $255 | -$10 | |
| Wet | $90 | $90 | $0 | ||
| **Weekly Average: | $207 | $217 | -$10 | ||
| (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 | 6/8/2023 | $6.1025 | $217.9465 |
| Soybean Meal | 6/8/2023 | $404.00 | |
| DDG Weekly Average Spot Price | 6/8/2023 | $207.00 | |
| DDG Value Relative to: | 6/8 | 6/1 | |
| Corn | 0.95% | 1.03% | |
| Soybean Meal | 51.24% | 54.06% | |
| Cost Per Unit of Protein: | |||
| DDG | $7.67 | $8.04 | |
| Soybean Meal | $8.51 | $8.45 | |
| 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
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