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Market Matters Blog 11/21 11:48
DTN Weekly Average DDG Price Higher Again
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 spot price for domestic distillers dried grains
(DDG) from 33 locations reporting for the week ended Nov. 20 was $156 per ton
on average, up $4 versus one week ago, with spot demand contributing to the
higher price.
DDG prices were mixed but higher on average again for the week, even as
soybean meal prices were down $10.80 versus one week ago and the cash corn
price was lower as well. The DTN National Average Corn Index was down 13 cents
versus one week ago.
Based on the average of prices collected by DTN, the value of DDG relative
to corn for the week ended Nov. 20 was 1.024%. The value of DDG relative to
soybean meal was 49.12% and the cost per unit of protein for DDG was $5.78
compared to the cost per unit of protein for soybean meal at $6.69.
U.S. Grains Council, in its weekly distillers dried grains with solubles
(DDGS) export market prices report, showed December prices as of Nov.13: CIF
NOLA barge price was steady at $210 metric ton (mt); FOB vessel Gulf price was
up $5 at $235 mt; rail delivered PNW was up 15 at $255; and rail delivered to
California was up $23 at $248 mt.
The U.S. Census Bureau released August data on U.S. DDGS exports noting a
rise of 10% to 1.17 million metric tons (mmt), reporting multi-month highs
across major destinations and record shipments to Colombia, Honduras, and New
Zealand. The largest buyer, Mexico, increased purchases by 13% to 206,787 mt;
South Korea was 8% lower to 145,014 mt; Vietnam increased 9% to 120,743 mt and
Colombia purchases rose 9% to 101,207 mt, with these four markets together
accounting for half of all exports. Other notable markets included Indonesia,
New Zealand, and Canada. Year-to-date DDGS exports totaled 7.64 mmt, behind
last year's pace by 4%. The U.S. Census Bureau will continue catching up from
the government shutdown with September trade data set for release on Dec. 1,
followed by October statistics on Dec. 4, returning the trade series to its
normal schedule.
The Energy Information Administration reported for the week ended Nov. 14,
overall ethanol production in the United States averaged 1.091 million barrels
per day (bpd), up 16,000 bpd versus last week and 28,000 bpd, or 2.6% lower
than in the same week last year. Four-week average output at 1.097 million bpd
was 15,000 bpd below the same four weeks last year. Midwest ethanol production
averaged 1.033 million bpd, up 19,000 bpd versus last week and 15,000 bpd, or
1.5% lower than in the same week last year. The 4-week average output at 1.038
million bpd was 7,000 bpd below the same four weeks last year.
Happy Thanksgiving! There will be no DDG price report next week given the
Thursday holiday and half-day markets on Friday.
Note: All prices subject to change/confirmation.
ALL PRICES SUBJECT TO CONFIRMATION CURRENT PREVIOUS CHANGE
COMPANY STATE 11/20/2025 11/13/2025
Bartlett and Company, Kansas City, MO (816 714 3413)
Missouri Dry $175 $165 $10
Wet $90 $85 $5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
Dry $170 $165 $5
Wet $90 $90 $0
CHS, Minneapolis, MN (800-769-1066)
Illinois Dry $160 $160 $0
Indiana Dry $145 $145 $0
Iowa Dry $142 $138 $4
Michigan Dry $148 $148 $0
Minnesota Dry $135 $135 $0
New York Dry $178 $175 $3
South Dakota Dry $155 $142 $13
POET Nutrition, Sioux Falls, SD (888-327-8799)
Indiana Dry $165 $165 $0
Iowa Dry $165 $155 $10
Michigan Dry $168 $165 $3
Minnesota Dry $165 $155 $10
Missouri Dry $175 $168 $7
Ohio Dry $165 $165 $0
South Dakota Dry $165 $155 $10
Nebraska Dry $175 $155 $20
United BioEnergy, Wichita, KS (316-616-3521)
Kansas Dry $165 $165 $0
Wet $55 $55 $0
Ill SOLD OUT NOV Dry $160 $160 $0
Nebraska Dry $165 $165 $0
Wet $55 $55 $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
Illinois Dry $150 $150 $0
Indiana Dry $145 $145 $0
Iowa Dry $140 $140 $0
Michigan Dry $140 $140 $0
Minnesota Dry $130 $130 $0
Nebraska Dry $150 $150 $0
New York Dry $165 $165 $0
North Dakota Dry $140 $140 $0
Ohio Dry $155 $155 $0
South Dakota Dry $140 $140 $0
Wisconsin Dry $135 $135 $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
FOB Pickett Dry $135 $130 $5
Western Kansas
CALL Dry $202 $202 $0
Wet $65 $65 $0
Western Milling
California Dry $237 $232 $5
**Weekly Average: $156 $152 $4
(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 11/20/2025 $4.2650 $152.3214
Soybean Meal 11/20/2025 $317.60
DDG Weekly Average Spot Price 11/20/2025 $156.00
DDG Value Relative to: 11/20 11/13
Corn 1.024% 0.964%
Soybean Meal 49.12% 46.29%
Cost Per Unit of Protein:
DDG $5.78 5.63
Soybean Meal $6.69 6.91
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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