Market Matters Blog

DTN Weekly DDG Price Slightly Higher on Average

Mary Kennedy
By  Mary Kennedy , DTN Basis Analyst
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DTN's weekly spot price for domestic distillers dried grains for the week ended Feb. 29 is up $1 per ton on average versus one week ago. (DTN file photo)

MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended Feb. 29 was up $1 on average at $195 per ton versus one week ago. Prices did get some support from the higher corn market all week. The DTN National Corn Index was 13 cents higher Thursday versus one week ago.

The Energy Information Administration on Wednesday reported overall ethanol production in the United States averaged 1.078 million barrels per day (bpd) as of Feb. 23, down 6,000 bpd week-on-week and 75,000 bpd, or 7.5%, higher than in the same week last year. Four-week average output at 1.069 million bpd was 58,000 bpd above the same four weeks in 2022. Midwest ethanol production averaged 1.029 million bpd, down 3,000 bpd week-on-week and 71,000 bpd, or 6.9%, higher than in the same week last year. Four-week average output at 1.019 million bpd was 54,000 bpd above 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 Feb. 29 was 1.31%. The value of DDG relative to soybean meal was 58.51 and the cost per unit of protein for DDG was $7.22 compared to the cost per unit of protein for soybean meal at $7.02.

According to U.S. Grains Council weekly DDGS export prices, barge CIF NOLA was down $1 versus last week, FOB Vessel Gulf was down $3, rail delivered California was unchanged and 40-foot containers to Vietnam were unchanged versus one week ago.

Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 2/29/2024 2/22/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $205 $210 -$5
Wet $105 $110 -$5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $205 $210 -$5
Wet $100 $105 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $205 $200 $5
Indiana Dry $175 $180 -$5
Iowa Dry $180 $185 -$5
Michigan Dry $180 $185 -$5
Minnesota Dry $175 $180 -$5
New York Dry $195 $205 -$10
South Dakota Dry $175 $190 -$15
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $210 $210 $0
Iowa Dry $195 $200 -$5
Michigan Dry $220 $220 $0
Minnesota Dry $190 $195 -$5
Missouri Dry $215 $220 -$5
Ohio Dry $195 $210 -$15
South Dakota Dry $195 $200 -$5
Nebraska Dry $200 $200 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $220 $220 $0
Wet $70 $70 $0
Illinois Dry $204 $204 $0
Nebraska Dry $220 $220 $0
Wet $70 $70 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $190 $190 $0
Indiana Dry $190 $190 $0
Iowa Dry $175 $175 $0
Michigan Dry $180 $180 $0
Minnesota Dry $185 $185 $0
Nebraska Dry $190 $190 $0
New York Dry $260 $260 $0
North Dakota Dry $190 $190 $0
Ohio Dry $190 $190 $0
South Dakota Dry $185 $185 $0
Wisconsin Dry $180 $180 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $185 $190 -$5
Western Kansas
Kansas Dry $240 $240 $0
Wet $75 $72 $3
Western Milling
California Subject Dry $285 $285 $0
**Weekly Average: $195 $194 $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 2/29/2024 $4.1575 $148.4822
Soybean Meal 2/29/2024 $333.30
DDG Weekly Average Spot Price 2/29/2024 $195.00
DDG Value Relative to: 2/29 2/22
Corn 1.31% 1.13%
Soybean Meal 58.51% 48.84%
Cost Per Unit of Protein:
DDG $7.22 $7.19
Soybean Meal $7.02 $8.36
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 X, formerly known as Twitter, @MaryCKenn

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Mary Kennedy

Mary Kennedy
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