Market Matters Blog           05/17 12:22

   DTN Weekly DDG Price Slightly Lower Again on Average

   DTN's weekly average spot price for domestic distillers dried grains is down 
$1 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 May 16 was down $1 on 
average versus one week ago at $165 per ton. DDG prices were mixed this week 
but slightly lower on average. The DTN National Average Corn Index was up 1 
cent versus one week ago.

   The Energy Information Administration on Wednesday reported overall ethanol 
production in the United States averaged 1 million bpd in the week ended May 
10, up 35,000 bpd week-on-week and 13,000 bpd, or 1.3% higher than in the same 
week last year, Energy Information Administration data show. Four-week average 
output at 977,000 bpd was 3,000 bpd above the same four weeks last year. 
Midwest ethanol production averaged 954,000 bpd, up 40,000 bpd week-on-week and 
22,000 bpd, or 2.3% higher than in the same week last year. Four-week average 
output at 925,000 bpd was 4,000 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 May 16 was 1.01%. The value of DDG relative to 
soybean meal was 44.87 and the cost per unit of protein for DDG was $6.11 
compared to the cost per unit of protein for soybean meal at $7.74.            

   U.S. Grains Council in their weekly DDGS export market prices report showed 
May 15 CIF NOLA barge price was at $196 per metric ton, up $5 versus last week 
and FOB vessel Gulf price was at $198, up $4 per metric ton. Rail delivered to 
the PNW was unchanged at $239 and rail delivered to California was unchanged 
versus last week at $236 per metric ton.

   Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION          CURRENT       PREVIOUS     CHANGE
COMPANY    STATE                            5/16/2024     5/9/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri                   Dry   $170          $170         $0

                                      Wet   $85           $85          $0

Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                      Dry   $175          $175         $0

                                      Wet   $70           $70          $0

CHS, Minneapolis, MN (800-769-1066)
           Illinois                   Dry   $170          $170         $0

           Indiana                    Dry   $145          $150         -$5

           Iowa                       Dry   $155          $155         $0

           Michigan                   Dry   $150          $155         -$5

           Minnesota                  Dry   $150          $145         $5

           New York                   Dry   $170          $170         $0

           South Dakota               Dry   $160          $155         $5

POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana                    Dry   $175          $180         -$5

           Iowa                       Dry   $175          $175         $0

           Michigan                   Dry   $180          $180         $0

           Minnesota                  Dry   $165          $165         $0

           Missouri                   Dry   $190          $190         $0

           Ohio                       Dry   $175          $180         -$5

           South Dakota               Dry   $175          $175         $0

           Nebraska                   Dry   $175          $180         -$5

United BioEnergy, Wichita, KS (316-616-3521)
           Kansas                     Dry   $190          $190         $0

                                      Wet   $55           $55          $0

           Illinois SOLD OUT          Dry   $0            $0           $0

           Nebraska                   Dry   $190          $190         $0

                                      Wet   $55           $55          $0

U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois                   Dry   $164          $164         $0

           Indiana                    Dry   $145          $145         $0

           Iowa                       Dry   $145          $145         $0

           Michigan                   Dry   $155          $155         $0

           Minnesota                  Dry   $145          $145         $0

           Nebraska                   Dry   $160          $160         $0

           New York                   Dry   $210          $210         $0

           North Dakota               Dry   $158          $160         -$2

           Ohio                       Dry   $165          $165         $0

           South Dakota               Dry   $148          $150         -$2

           Wisconsin                  Dry   $150          $150         $0

Fox River Valley Ethanol, Oshkosh WI 715-709-0269
                                      Dry   $160          $165         -$5
Western Kansas
           Kansas                     Dry   $195          $210         -$15
                                      Wet   $68           $74          -$6
Western Milling
           California                 Dry   $255          $255         $0
**Weekly Average:                           $165          $166         -$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                                      5/16/2024     $4.5700   $163.2143
Soybean Meal                              5/16/2024               $367.70
DDG Weekly Average Spot Price             5/16/2024               $165.00
DDG Value Relative to:                                  5/16      5/9
Corn                                                    1.01%     1.13%
Soybean Meal                                            44.87%    48.84%
Cost Per Unit of Protein:
DDG                                                     $6.11     $7.19
Soybean Meal                                            $7.74     $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 @MaryCKenn on the social platform X

    




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