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Market Matters Blog 10/11 11:38
DTN Weekly DDG Price Steady on Average
DTN's weekly average spot price for domestic distillers dried grains is
steady 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 Oct. 10 was steady on
average at $145 per ton versus one week ago. DDG prices overall were mixed but
steady for the week on average in spite of the lower cash corn and soybean meal
prices. The DTN National Average Corn Index was down 10 cents versus one week
ago.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended Oct. 10 was 0.97%. The value of DDG relative to
soybean meal was 45.67 and the cost per unit of protein for DDG was $5.37
compared to the cost per unit of protein for soybean meal at $6.68.
U.S. Grains Council in its weekly DDGS export market prices report showed as
of Oct. 9, CIF NOLA barge price was at $179 metric ton (mt), up $1 versus one
week ago, and FOB vessel Gulf price was steady at $195; rail delivered PNW was
up $5 at $215, and rail delivered to California was up $2 at $214 mt.
USDA used Census Bureau data released earlier this week to provide more
details for exports of DDGS. U.S. exports of DDGS totaled 1,119,768 mt in
August, up from 1,090,004 mt in July and up 19% from a year ago. South Korea
was the top destination in August, taking 15% of U.S. exports and was followed
by Mexico and Turkey. In the first eight months of 2024, DDGS exports were up
15% from a year ago.
The U.S. Energy Information Administration reported overall ethanol
production in the United States averaged 1.038 million bpd in the week ended
Oct. 4, the Energy Information Administration reports, up 23,000 bpd
week-on-week and 34,000 bpd, or 3.3% higher than in the same week last year.
Four-week average output at 1.024 million bpd was 24,000 bpd above the same
four weeks last year. Midwest ethanol production averaged 979,000 bpd, up
18,000 bpd week-on-week and 29,000 bpd, or 3% higher than in the same week last
year. Four-week average output at 965,000 bpd was 19,000 bpd above the same
four weeks last year.
Note: All prices subject to change/confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT CURRENT CHANGE
COMPANY STATE 10/10/2024 10/3/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $165 $165 $0
Wet $80 $80 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $165 $165 $0
Wet $70 $70 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $150 $150 $0
Indiana Dry $120 $125 -$5
Iowa Dry $135 $135 $0
Michigan Dry $130 $130 $0
Minnesota Dry $135 $135 $0
New York Dry $160 $135 $25
South Dakota Dry $145 $145 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $150 $150 $0
Iowa Dry $150 $150 $0
Michigan Dry $150 $150 $0
Minnesota Dry $145 $145 $0
Missouri Dry $160 $160 $0
Ohio Dry $150 $150 $0
South Dakota Dry $150 $150 $0
Nebraska Dry $160 $160 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $165 $165 $0
Wet $70 $70 $0
Illinois Dry $152 $152 $0
Nebraska Dry $165 $165 $0
Wet $70 $70 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $135 $135 $0
Indiana Dry $130 $130 $0
Iowa Dry $120 $120 $0
Michigan Dry $135 $135 $0
Minnesota Dry $120 $120 $0
Nebraska Dry $160 $145 $15
New York Dry $160 $160 $0
North Dakota Dry $135 $135 $0
Ohio Dry $145 $145 $0
South Dakota Dry $125 $125 $0
Wisconsin Dry $130 $130 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
FOB Pickett Dry $145 $145 $0
Western Kansas
Kansas Dry $185 $185 $0
Wet $72 $72 $0
Western Milling
California Dry $235 $235 $0
**Weekly Average: $145 $145 $0
(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 10/10/2024 $4.1850 $149.4643
Soybean Meal 10/10/2024 $317.50
DDG Weekly Average Spot Price 10/10/2024 $145.00
DDG Value Relative to: 10/10 10/3
Corn 0.97% 1.13%
Soybean Meal 45.67% 48.84%
Cost Per Unit of Protein:
DDG $5.37 $7.19
Soybean Meal $6.68 $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 the social platform X @MaryCKenn
(c) Copyright 2024 DTN, LLC. All rights reserved.
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