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DDG Weekly Update
Mary Kennedy 3/20 12:13 PM
MINNEAPOLIS (DTN) -- The average DTN spot price for domestic distillers dried grains (DDG) from 33 locations reporting for the week ended March 19 was $180 per ton on average, up $3 versus one week ago. DDG prices were mixed but higher on average again for the week, with the cash corn and soybean meal prices higher again as well. Soybean meal prices were up $12.20 versus one week ago. As for cash corn, the DTN National Average Corn Index was up 8 cents versus one week ago. So far this month, DDG prices have been rising in sync with other higher-priced animal feeds. Based on the average of prices collected by DTN, the value of DDG relative to corn for the week ended March 19 was 1.073%. The value of DDG relative to soybean meal was 54.14% and the cost per unit of protein for DDG was $6.67 compared to the cost per unit of protein for soybean meal at $7. U.S. Grains and Bioproducts Council, in its weekly distillers dried grains with solubles (DDGS) export market prices report, showed these April prices as of March 19: CIF NOLA barge price was steady at $249 metric ton (mt) versus on week ago; FOB vessel Gulf price was down $4 at $260 mt; rail delivered PNW was down $11 at $270; and rail delivered to California was down $5 at $265 mt. Ethanol production in the United States averaged 1.093 million barrels per day (bpd) in the week ended March 13, according to the Energy Information Administration. That is down 33,000 bpd week-on-week and 40,000 bpd, or 3.8%, higher than in the same week last year. Four-week average output at 1.107 million bpd was 22,000 bpd above the same four weeks last year. Midwest ethanol production averaged 1.035 million bpd, down 43,000 bpd week-on-week and 33,000 bpd, or 3.3%, higher than in the same week last year. Four-week average output at 1.054 million bpd was 20,000 bpd above the same four weeks last year. Note: All prices subject to change/confirmation.
Mary Kennedy can be reached at mary.kennedy@dtn.com Follow her on the social platform X @MaryCKenn
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