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Market Matters Blog 09/20 11:05
DTN Weekly DDG Price Higher on Average
DTN's weekly average spot price for domestic distillers dried grains is
higher 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 Sept. 19 was $2 higher on
average at $143 per ton versus one week ago. DDG prices overall were mixed but
higher for the week on average. Weekly plant production was lower with some
plants heading into fall maintenance this month. The DTN National Average Corn
Index was down 1 cent versus one week ago.
The U.S. Energy Information Administration reported overall ethanol
production in the United States averaged 1.049 million bpd for the week ending
Sept. 13, down 31,000 bpd week-on-week and 69,000 bpd, or 6.6% higher than in
the same week last year. Four-week average output at 1.065 million bpd was
56,000 bpd above the same four weeks last year. Midwest ethanol production
averaged 986,000 bpd, down 33,000 bpd week-on-week and 59,000 bpd, or 6% higher
than in the same week last year. Four-week average output at 1.005 million bpd
was 52,000 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 Sept. 19 was 0.99%. The value of DDG relative to
soybean meal was 44.70% and the cost per unit of protein for DDG was $5.30
compared to the cost per unit of protein for soybean meal at $6.73.
U.S. Grains Council in its weekly DDGS export market prices report showed as
of Sept. 18, October CIF NOLA barge price was at $169 metric ton (mt), down $8
versus one week ago, and FOB vessel Gulf price was down $4 at $185; rail
delivered PNW was down $1 at $213 and rail delivered to California was steady
at $212 mt.
Low water levels on the lower Mississippi River are impeding barge traffic,
affecting DDGS and other grain shipments. Drafts have been cut again and
dredges are busy keeping channels open and hoping to help stop groundings in
the trouble spots. The Mississippi River at Memphis is at -7.67 feet below zero
gauge today at St. Louis is at -0.65.
Note: All prices subject to change/confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 9/19/2024 9/12/2024
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $160 $160 $0
Wet $80 $80 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $150 $150 $0
Wet $60 $60 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $145 $145 $0
Indiana Dry $120 $120 $0
Iowa Dry $130 $130 $0
Michigan Dry $125 $125 $0
Minnesota Dry $128 $125 $3
New York Dry $135 $135 $0
South Dakota Dry $135 $130 $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $155 $155 $0
Iowa Dry $145 $145 $0
Michigan Dry $150 $150 $0
Minnesota Dry $145 $145 $0
Missouri Dry $160 $160 $0
Ohio Dry $155 $155 $0
South Dakota Dry $150 $150 $0
Nebraska Dry $160 $150 $10
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $160 $160 $0
Wet $65 $65 $0
Illinois Dry $147 $150 -$3
Nebraska Dry $160 $160 $0
Wet $65 $65 $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 $110 $10
Nebraska Dry $145 $140 $5
New York Dry $160 $160 $0
North Dakota Dry $135 $130 $5
Ohio Dry $145 $145 $0
South Dakota Dry $125 $120 $5
Wisconsin Dry $130 $130 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
W/O 9-22 FOBPickett Dry $140 $137 $3
Western Kansas
Kansas Dry $185 $175 $10
Wet $72 $70 $2
Western Milling
California Dry $220 $220 $0
**Weekly Average: $143 $141 $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 9/19/2024 $4.0575 $144.9107
Soybean Meal 9/19/2024 $319.90
DDG Weekly Average Spot Price 9/19/2024 $143.00
DDG Value Relative to: 9/19 9/12
Corn 0.99% 1.13%
Soybean Meal 44.70% 48.84%
Cost Per Unit of Protein:
DDG $5.30 $7.19
Soybean Meal $6.73 $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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