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Market Matters Blog 11/24 10:05
DTN Weekly DDG Average Price Higher
DTN's weekly average spot price for domestic distillers dried grains was
higher than one week ago.
Mary Kennedy
DTN Basis Analyst
MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried
grains (DDG) from 33 locations reporting for the week ended Nov. 22 was up $1
at $205 per ton versus one week ago.
The Energy Information Administration on Wednesday said overall ethanol
production in the United States for the week ended Nov. 17 averaged 1.023
million barrels per day (bpd), down 24,000 bpd, week-on-week, and 18,000 bpd,
or 1.8%, lower than in the same week last year. Four-week average output at
1.041 million bpd was 5,000 bpd above the same four weeks in 2022. Midwest
ethanol production averaged 963,000 bpd, down 24,000 bpd, week-on-week, and
18,000 bpd, or 1.9%, lower than in the same week last year. Four-week average
output at 982,000 bpd was 5,000 bpd above the same four weeks in 2022.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended Nov. 22 was 1.22%. The value of DDG relative to
soybean meal was 44.75 and the cost per unit of protein for DDG was $7.59
compared to the cost per unit of protein for soybean meal at $9.64.
NOTE: All prices listed below can change at any time and are subject to
confirmation from sellers.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 11/22/2023 11/16/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $223 $225 -$2
Wet $123 $125 -$2
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $230 $230 $0
Wet $115 $115 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $215 $215 $0
Indiana Dry $195 $195 $0
Iowa Dry $205 $205 $0
Michigan Dry $195 $195 $0
Minnesota Dry $210 $205 $5
New York Dry $220 $220 $0
South Dakota Dry $215 $210 $5
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $215 $209 $6
Wet $73 $70 $3
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $210 $210 $0
Iowa Dry $220 $220 $0
Michigan Dry $220 $220 $0
Minnesota Dry $220 $220 $0
Missouri Dry $240 $240 $0
Ohio Dry $210 $210 $0
South Dakota Dry $220 $220 $0
Nebraska Dry $230 $230 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $220 $220 $0
Wet $90 $90 $0
Ill SOLD OUT NOV Dry $0 $0 $0
Nebraska Dry $220 $220 $0
Wet $90 $90 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $190 $190 $0
Indiana Dry $195 $195 $0
Iowa Dry $195 $195 $0
Michigan Dry $195 $195 $0
Minnesota Dry $200 $195 $5
Nebraska Dry $220 $220 $0
New York Dry $260 $260 $0
North Dakota Dry $215 $215 $0
Ohio Dry $195 $195 $0
South Dakota Dry $210 $200 $10
Wisconsin Dry $195 $195 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $195 $190 $5
Western Kansas Dry $255 $255 $0
Wet $86 $86 $0
Western Milling, CA Dry $295 $295 $0
**Weekly Average: $205 $204 $3
(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 11/22/2023 $4.6875 $167.4107
Soybean Meal 11/22/2023 $458.10
DDG Weekly Average Spot Price 11/22/2023 $205.00
DDG Value Relative to: 11/22 11/15
Corn 1.22% 1.13%
Soybean Meal 44.75% 48.84%
Cost Per Unit of Protein:
DDG $7.59 $7.19
Soybean Meal $9.64 $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 X, formerly known as Twitter, @MaryCKenn
(c) Copyright 2023 DTN, LLC. All rights reserved.
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