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Market Matters Blog 09/29 10:43
DTN Weekly DDG Prices Slightly Lower on Average
DTN's weekly average spot price for domestic distillers dried grains is down
$1 from one week ago.
Mary Kennedy
DTN Basis Analyst
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried
grains (DDG) from 33 locations reporting for the week ended Sept. 28 was mixed
but slightly lower at $195 per ton, down $1 on average from one week ago.
The Energy Information Administration (EIA) at midweek reported for the week
ended Sept. 22 overall ethanol production in the United States averaged 1.009
million barrels per day (bpd), up 29,000 bpd week-on-week and 154,000 bpd, or
15.3% higher than in the same week last year, the Energy Information
Administration reported midmorning. Four-week average output at 1.01 million
bpd was 83,000 bpd above the same four weeks in 2022. Midwest ethanol
production averaged 951,000 bpd, up 24,000 bpd week-on-week and 152,000 bpd, or
16% higher than in the same week last year. Four-week average output at 953,000
bpd was 82,000 bpd above the same four weeks in 2022.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended Sept. 28 was 1.12%. The value of DDG relative to
soybean meal was 49.69 and the cost per unit of protein for DDG was $7.22
compared to the cost per unit of protein for soybean meal at $8.26.
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 9/28/2023 9/21/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $210 $205 $5
Wet $110 $110 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $220 $215 $5
Wet $110 $105 $5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $195 $200 -$5
Indiana Dry $185 $190 -$5
Iowa Dry $190 $195 -$5
Michigan Dry $190 $200 -$10
Minnesota Dry $185 $180 $5
New York Dry $215 $225 -$10
South Dakota Dry $190 $190 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $210 $210 $0
Wet $71 $68 $3
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $215 $215 $0
Iowa Dry $200 $200 $0
Michigan Dry $225 $225 $0
Minnesota Dry $195 $200 -$5
Missouri Dry $230 $235 -$5
Ohio Dry $215 $215 $0
South Dakota Dry $205 $205 $0
Nebraska Dry $210 $210 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $220 $215 $5
Wet $90 $90 $0
Ill SOLD OUT OCT Dry $0 $0 $0
Nebraska Dry $220 $215 $5
Wet $90 $90 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $190 $195 -$5
Indiana Dry $190 $190 $0
Iowa Dry $185 $190 -$5
Michigan Dry $195 $195 $0
Minnesota Dry $185 $183 $2
Nebraska Dry $200 $200 $0
New York Dry $240 $240 $0
North Dakota Dry $195 $195 $0
Ohio Dry $195 $195 $0
South Dakota Dry $185 $185 $0
Wisconsin Dry $190 $190 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $190 $190 $0
Western Kansas SUBJ Dry $235 $235 $0
Wet $87 $87 $0
Western Milling, CA Dry $272 $272 $0
**Weekly Average: $195 $196 -$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 9/28/2023 $4.8850 $174.4643
Soybean Meal 9/28/2023 $392.40
DDG Weekly Average Spot Price 9/28/2023 $195.00
DDG Value Relative to: 9/28 9/21
Corn 1.12% 1.13%
Soybean Meal 49.69% 48.84%
Cost Per Unit of Protein:
DDG $7.22 $7.19
Soybean Meal $8.26 $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
(c) Copyright 2023 DTN, LLC. All rights reserved.
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