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Market Matters Blog 04/26 13:04
DTN Weekly DDG Price Falls Lower on Average
DTN's weekly average spot price for domestic distillers dried grains is down
$6 on average versus one week ago.
Mary Kennedy
DTN Basis Analyst
MINNEAPOLIS (DTN) -- The DTN price for domestic distillers dried grains
(DDG) from 33 locations reporting for the week ended April 25 was down $6 on
average versus one week ago at $170 per ton. DDG prices were pushed much lower
than in recent weeks from most of the prices collected, despite a slowdown in
production. Cheaper soybean meal prices added pressure but strength in the corn
market didn't seem to matter. The DTN National Average Corn Index was up 16
cents versus one week ago.
The Energy Information Administration on Wednesday reported overall ethanol
production in the United States averaged 954,000 bpd in the week ended April
19, the Energy Information Administration reports, down 29,000 bpd week-on-week
and 13,000 bpd, or 1.4% lower than in the same week last year. Four-week
average output at 1.017 million bpd was 29,000 bpd above the same four weeks
last year. Midwest ethanol production averaged 903,000 bpd, down 21,000 bpd
week-on-week and 13,000 bpd, or 1.4% lower than in the same week last year.
Four-week average output at 965,000 bpd was 26,000 bpd above the same four
weeks last year.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended April 25 was 1.08%. The value of DDG relative to
soybean meal was 49.43 and the cost per unit of protein for DDG was $6.30
compared to the cost per unit of protein for soybean meal at $7.24.
*All prices are subject to confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 4/25/2024 4/18/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $175 $180 -$5
Wet $87 $90 -$3
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $170 $185 -$15
Wet $75 $80 -$5
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $165 $165 $0
Indiana Dry $150 $145 $5
Iowa Dry $155 $155 $0
Michigan Dry $160 $165 -$5
Minnesota Dry $150 $155 -$5
New York Dry $190 $195 -$5
South Dakota Dry $155 $160 -$5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $185 $195 -$10
Iowa Subject Dry $170 $175 -$5
Michigan Subject Dry $185 $195 -$10
Minnesota Subject Dry $160 $165 -$5
Missouri Dry $195 $195 $0
Ohio Dry $185 $190 -$5
South Dakota Subj. Dry $180 $185 -$5
Nebraska Subject Dry $185 $190 -$5
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $190 $185 $5
Wet $55 $55 $0
Illinois SOLD OUT Dry $0 $0 $0
Nebraska Dry $190 $185 $5
Wet $55 $55 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $170 $185 -$15
Indiana Dry $170 $180 -$10
Iowa Dry $150 $150 $0
Michigan Dry $170 $180 -$10
Minnesota Dry $145 $165 -$20
Nebraska Dry $160 $165 -$5
New York Dry $225 $260 -$35
North Dakota Dry $160 $170 -$10
Ohio Dry $175 $180 -$5
South Dakota Dry $155 $165 -$10
Wisconsin Dry $165 $175 -$10
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $165 $175 -$10
Western Kansas
Kansas Dry $210 $230 -$20
Wet $74 $74 $0
Western Milling
California Dry $260 $260 $0
**Weekly Average: $170 $176 -$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 4/25/2024 $4.4100 $157.5000
Soybean Meal 4/25/2024 $343.90
DDG Weekly Average Spot Price 4/25/2024 $170.00
DDG Value Relative to: 4/25 4/18
Corn 1.08% 1.13%
Soybean Meal 49.43% 48.84%
Cost Per Unit of Protein:
DDG $6.30 $7.19
Soybean Meal $7.24 $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 social platform X @MaryCKenn
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