| |
Market Matters Blog 09/22 13:14
DTN Weekly DDG Prices Higher on Average
DTN's weekly average spot price for domestic distillers dried grains is up
$2 from 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 Sept. 21 was $196
per ton, up $2 on average from one week ago.
DDG prices were mixed, but higher on average. Given the weakness in corn for
the week, prices remained steady. Lower plant production, which will likely
continue as plants head into fall maintenance, will cause supplies to get
tight. The DTN National Corn Index is down 13 cents versus one week ago.
The Energy Information Administration (EIA) at midweek reported for the week
ended Sept. 15 overall ethanol production in the United States averaged 980,000
barrels per day (bpd), down 59,000 bpd week-on-week and 79,000 bpd, or 8.1%,
higher than in the same week last year. Production fell below the
1-million-barrel (bbl) mark for the first time since the week ended May 15,
while dropping to the lowest level since May 5 at 965,000 bpd. EIA reports
four-week average output at 1.009 million bpd was 53,000 bpd above the same
four weeks in 2022. Midwest ethanol production averaged 927,000 bpd, down
55,000 bpd week-on-week and 77,000 bpd, or 8.3% higher than in the same week
last year. The four-week average output, at 953,000 bpd, was 55,000 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 Sep 21 was 1.15%. The value of DDG relative to
soybean meal was 50.22 and the cost per unit of protein for DDG was $7.26
compared to the cost per unit of protein for soybean meal at $8.22.
In their weekly DDGs report, the U.S. Grains Council said, "Rates for DDGS
delivered by rail to key U.S. locations are up $2 metric ton (mt) this week as
challenging logistics on the Mississippi River system push more product to the
rail market. Additionally, the ethanol coproduct is still competing for space
with the new-crop grain and oilseed harvests. Barge CIF NOLA DDGS offers are $6
higher for spot positions this week with barge rates rising as Mississippi
River water levels fall. Offers for November and December barges are up just $5
and $3, respectively, from last week. FOB Gulf offers have followed a similar
trend with October offers up $9 mt this week while November and December
positions up $6 to $7 mt."
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 9/21/2023 9/14/2023
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $205 $205 $0
Wet $110 $110 $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $215 $215 $0
Wet $105 $105 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $200 $200 $0
Indiana Dry $190 $190 $0
Iowa Dry $195 $195 $0
Michigan Dry $200 $200 $0
Minnesota Dry $180 $185 -$5
New York Dry $225 $225 $0
South Dakota Dry $190 $190 $0
MGP Ingredients, Atchison, KS (800-255-0302)
Dry $210 $205 $5
Wet $68 $52 $16
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $215 $215 $0
Iowa Dry $200 $200 $0
Michigan Dry $225 $225 $0
Minnesota Dry $200 $200 $0
Missouri Dry $235 $235 $0
Ohio Dry $215 $215 $0
South Dakota Dry $205 $205 $0
Nebraska Dry $210 $210 $0
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $215 $205 $10
Wet $90 $80 $10
Ill SOLD OUT SEP Dry $0 $0 $0
Nebraska Dry $215 $205 $10
Wet $90 $80 $10
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $195 $195 $0
Indiana Dry $190 $190 $0
Iowa Dry $190 $190 $0
Michigan Dry $195 $195 $0
Minnesota Dry $183 $183 $0
Nebraska Dry $200 $200 $0
New York Dry $240 $240 $0
North Dakota Dry $195 $195 $0
Ohio Dry $195 $195 $0
South Dakota Dry $185 $185 $0
Wisconsin Dry $190 $190 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
Dry $190 $185 $5
Western Kansas Dry $235 $230 $5
Wet $87 $83 $4
Western Milling, CA Dry $272 $278 -$6
**Weekly Average: $196 $194 $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 9/21/2023 $4.7525 $169.7322
Soybean Meal 9/21/2023 $390.30
DDG Weekly Average Spot Price 9/21/2023 $196.00
DDG Value Relative to: 9/21 9/14
Corn 1.15% 1.14%
Soybean Meal 50.22% 48.52%
Cost Per Unit of Protein:
DDG $7.26 $7.22
Soybean Meal $8.22 $8.46
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.
Your local weather forecast from DTN can be sent to your email every morning free through DTN Snapshot.
|
|
