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Market Matters Blog 07/26 11:32
DTN Weekly DDG Prices Mixed, But Lower on Average
DTN's weekly average spot price for domestic distillers dried grains is down
$2 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 July 25 was down $2 on
average at $144 per ton versus one week ago. While the corn market rallied
versus one week ago, DDG prices still saw some pressure from cheaper feed
prices and plentiful supplies as trade was lackluster. The DTN National Average
Corn Index was up 14 cents versus one week ago.
The U.S. Energy Information Administration reported overall ethanol
production in the United States averaged 1.095 million barrels per day (bpd)
through July 19, down 11,000 bpd week-on-week and 1,000 bpd, or 0.1%, higher
than in the same week last year. Four-week average output at 1.08 million bpd
was 16,000 bpd above the same four weeks last year. Midwest ethanol production
averaged 1.035 million bpd, down 11,000 bpd week-on-week and 15,000 bpd, or
1.4%, higher than in the same week last year. Four-week average output at 1.023
million bpd was 24,000 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 July 25 was 0.99%. The value of DDG relative to
soybean meal was 40.86 and the cost per unit of protein for DDG was $5.33
compared to the cost per unit of protein for soybean meal at $7.42.
U.S. Grains Council in its weekly DDGS export market prices report showed
July 24 August CIF NOLA barge price was at $182 per metric ton, down $19 from
one week ago and FOB vessel Gulf price was at $187, down $19; rail delivered
PNW was down 14 cents at $216 and rail delivered to California was down 13
cents at $217 per metric ton.
Note: All prices subject to change/confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 7/25/2024 7/18/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $160 $155 $5
Wet $80 $80 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $155 $155 $0
Wet $60 $60 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $150 $145 $5
Indiana Dry $125 $125 $0
Iowa Dry $135 $140 -$5
Michigan Dry $125 $125 $0
Minnesota Dry $125 $130 -$5
New York Dry $145 $140 $5
South Dakota Dry $130 $130 $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $160 $170 -$10
Iowa Dry $150 $155 -$5
Michigan Dry $160 $165 -$5
Minnesota Dry $145 $150 -$5
Missouri Dry $165 $165 $0
Ohio Dry $160 $170 -$10
South Dakota Dry $145 $155 -$10
Nebraska Dry $145 $155 -$10
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $155 $155 $0
Wet $65 $65 $0
Illinois SOLD OUT Dry $0 $0 $0
Nebraska Dry $155 $155 $0
Wet $65 $65 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $140 $140 $0
Indiana Dry $135 $135 $0
Iowa Dry $120 $120 $0
Michigan Dry $140 $140 $0
Minnesota Dry $135 $135 $0
Nebraska Dry $140 $140 $0
New York Dry $160 $160 $0
North Dakota Dry $125 $125 $0
Ohio Dry $150 $150 $0
South Dakota Dry $120 $120 $0
Wisconsin Dry $140 $140 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
FOB Pickett Dry $145 $145 $0
Western Kansas
Kansas Dry $182 $182 $0
Wet $68 $68 $0
Western Milling
California Dry $230 $230 $0
**Weekly Average: $144 $146 -$2
(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 7/25/2024 $4.0600 $145.0000
Soybean Meal 7/25/2024 $352.40
DDG Weekly Average Spot Price 7/25/2024 $144.00
DDG Value Relative to: 7/25 7/18
Corn 0.99% 1.13%
Soybean Meal 40.86% 48.84%
Cost Per Unit of Protein:
DDG $5.33 $7.19
Soybean Meal $7.42 $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
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