Market Matters Blog           02/20 11:48

   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 average DTN spot price for domestic distillers 
dried grains (DDG) from 33 locations reporting for the week ended Feb. 19 was 
$169 per ton on average, up $3 versus one week ago.

   DDG prices were mixed but higher on average for the week with good spot 
demand, while the cash corn price was lower and soybean meal prices were up 
$1.00 versus one week ago. As for cash corn, the DTN National Average Corn 
Index was down 5 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 Feb. 19 was 1.111%. The value of DDG relative to 
soybean meal was 54.71% and the cost per unit of protein for DDG was $6.26 
compared to the cost per unit of protein for soybean meal at $6.50.

   U.S. Grains and Bioproducts Council, in its weekly distillers dried grains 
with solubles (DDGS) export market prices report, showed these March prices as 
of Feb. 19: CIF NOLA barge price was up $5 at $235 metric ton (mt) versus on 
week ago; FOB vessel Gulf price was up $7 at $265 mt; rail delivered PNW was 
down $1 at $268; and rail delivered to California was down $1 at $259 mt.

   USDA used Census Bureau data released Thursday to provide more details for 
December exports of DDGS. U.S. exports of DDGS totaled 894,665 mt in December, 
down from 933,557 mt in November, and down 12% from December, 2024. DDGS 
exports fell 4% in 2025 as compared to 2024. Mexico was the top destination in 
November, taking 18% of U.S. exports and was followed by Indonesia and South 
Korea.

   Ethanol production in the United States averaged 1.118 million barrels per 
day (bpd) in the week ended Feb. 13, up 8,000 bpd week-on-week and 34,000 bpd, 
or 3.1%. higher than in the same week last year, the Energy Information 
Administration reported Thursday. Four-week average output at 1.074 million bpd 
was in line with year-ago levels. Midwest ethanol production averaged 1.058 
million bpd, up 5,000 bpd week-on-week and 25,000 bpd, or 2.4%, higher than in 
the same week last year. Four-week average output at 1.017 million bpd was 
3,000 bpd below the same four weeks last year.

   Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION         CURRENT       PREVIOUS      CHANGE
COMPANY    STATE                           2/19/2025     2/12/2025
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri                  Dry   $175          $175          $0
                                     Wet   $90           $90           $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                     Dry   $180          $175          $5
                                     Wet   $100          $95           $5
CHS, Minneapolis, MN (800-769-1066)
           Illinois                  Dry   $177          $177          $0
           Indiana                   Dry   $155          $155          $0
           Iowa                      Dry   $155          $150          $5
           Michigan                  Dry   $160          $155          $5
           Minnesota                 Dry   $150          $150          $0
           New York                  Dry   $199          $199          $0
           South Dakota              Dry   $175          $175          $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana                   Dry   $190          $185          $5
           Iowa                      Dry   $170          $170          $0
           Michigan                  Dry   $185          $180          $5
           Minnesota                 Dry   $170          $170          $0
           Missouri                  Dry   $175          $175          $0
           Ohio                      Dry   $190          $185          $5
           South Dakota              Dry   $165          $165          $0
           Nebraska                  Dry   $168          $168          $0
United BioEnergy, Wichita, KS (316-616-3521)
           Kansas                    Dry   $185          $180          $5
                                     Wet   $80           $70           $10
           Ill SOLD OUT Feb.         Dry   $175          $175          $0
           Nebraska                  Dry   $175          $170          $5
                                     Wet   $75           $65           $10
U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois                  Dry   $175          $165          $10
           Indiana                   Dry   $165          $155          $10
           Iowa                      Dry   $155          $150          $5
           Michigan                  Dry   $155          $155          $0
           Minnesota                 Dry   $150          $145          $5
           Nebraska                  Dry   $165          $160          $5
           New York                  Dry   $190          $185          $5
           North Dakota              Dry   $170          $165          $5
           Ohio                      Dry   $175          $170          $5
           South Dakota              Dry   $165          $160          $5
           Wisconsin                 Dry   $155          $150          $5
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
           FOB Pickett               Dry   $150          $145          $5
Western Kansas
                                     Dry   $190          $195          -$5
                                     Wet   $71           $74           -$3
Western Milling
           California                Dry   $252          $252          $0
**Weekly Average:                          $169          $166          $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                                      2/19/2026     $4.2575   $152.0536
Soybean Meal                              2/19/2026               $308.90
DDG Weekly Average Spot Price             2/19/2026               $169.00
DDG Value Relative to:                                  2/19      2/12
Corn                                                    1.111%    1.078%
Soybean Meal                                            54.71%    53.91%
Cost Per Unit of Protein:
DDG                                                     $6.26     6.15
Soybean Meal                                            $6.50     6.48
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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