Market Matters Blog           05/10 12:23

   DTN Weekly DDG Price Slightly Lower 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 9 was down $1 on 
average versus one week ago at $166 per ton. DDG prices were mixed this week 
and some buyers noted demand has slowly picked up. The DTN National Average 
Corn Index was down 4 cents versus one week ago.

   The Energy Information Administration on Wednesday reported overall ethanol 
production in the United States averaged 965,000 barrels per day (bpd) in the 
week ended May 3, down 22,000 bpd week-on-week while flat versus the same week 
last year. Four-week average output at 972,000 bpd was 11,000 bpd below the 
same four weeks last year. Midwest ethanol production averaged 914,000 bpd, 
down 16,000 bpd week-on-week and 2,000 bpd, or 0.2%, higher than in the same 
week last year. Four-week average output at 918,000 bpd was 13,000 bpd below 
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 9 was 1.05%. The value of DDG relative to 
soybean meal was 45.11 and the cost per unit of protein for DDG was $6.15 
compared to the cost per unit of protein for soybean meal at $7.75. (DDG table 
still May futures).

   U.S. Grains Council in their weekly DDGS export market prices report showed 
May 8 CIF NOLA barge price was down $5 per metric ton versus last week and FOB 
vessel Gulf price down $3 per metric ton. Rail delivered to the PNW was down $2 
versus last week and rail delivered to California was down $5 per metric ton 
from last week.

   Barge traffic has slowed in parts of the Upper Mississippi River through St. 
Louis as the onslaught of rain continues to cause a rise in the river. Safety 
restrictions come into play with tow and draft sizes reduced in some areas and 
no wake zones, both which slow transit.

   Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION           CURRENT      PREVIOUS     CHANGE
COMPANY     STATE                            5/9/2024     5/2/2024
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         $170         $5
                                       Wet   $70          $75          -$5
CHS, Minneapolis, MN (800-769-1066)
            Illinois                   Dry   $170         $165         $5
            Indiana                    Dry   $150         $145         $5
            Iowa                       Dry   $155         $150         $5
            Michigan                   Dry   $155         $155         $0
            Minnesota                  Dry   $145         $145         $0
            New York                   Dry   $170         $185         -$15
            South Dakota               Dry   $155         $150         $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana                    Dry   $180         $180         $0
            Iowa                       Dry   $175         $170         $5
            Michigan                   Dry   $180         $180         $0
            Minnesota                  Dry   $165         $160         $5
            Missouri                   Dry   $190         $190         $0
            Ohio                       Dry   $180         $180         $0
            South Dakota               Dry   $175         $175         $0
            Nebraska                   Dry   $180         $180         $0
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         $169         -$5
            Indiana                    Dry   $145         $165         -$20
            Iowa                       Dry   $145         $145         $0
            Michigan                   Dry   $155         $165         -$10
            Minnesota                  Dry   $145         $145         $0
            Nebraska                   Dry   $160         $160         $0
            New York                   Dry   $210         $225         -$15
            North Dakota               Dry   $160         $160         $0
            Ohio                       Dry   $165         $170         -$5
            South Dakota               Dry   $150         $150         $0
            Wisconsin                  Dry   $150         $165         -$15
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
                                       Dry   $165         $165         $0
Western Kansas
            Kansas                     Dry   $210         $210         $0
                                       Wet   $74          $74          $0
Western Milling
            California                 Dry   $255         $255         $0
**Weekly Average:                            $166         $167         -$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                                      5/9/2024      $4.4275   $158.1250
Soybean Meal                              5/9/2024                $368.00
DDG Weekly Average Spot Price             5/9/2024                $166.00
DDG Value Relative to:                                  5/9       5/2
Corn                                                    1.05%     1.13%
Soybean Meal                                            45.11%    48.84%
Cost Per Unit of Protein:
DDG                                                     $6.15     $7.19
Soybean Meal                                            $7.75     $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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