Market Matters Blog           09/18 12:30

   DTN Average Weekly DDG Price Higher

   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 Sept. 17 was 
$185 per short ton on average, up $4 versus one week ago. A merchandiser told 
DTN that demand is picking up.

   DDG prices were mixed but higher on average again, while the cash corn price 
was lower versus one week ago. The DTN National Average Corn Index was down 2 
cents per bushel, while soybean meal prices pushed higher, up $14.30 per short 
ton versus one week ago.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Sept. 17 was 0.98%. The value of DDG relative to 
soybean meal was 49.82% and the cost per unit of protein for DDG was $6.85 
compared to the cost per unit of protein for soybean meal at $7.82.

   U.S. Grains and Bioproducts Council in its weekly distillers dried grains 
with solubles (DDGS) export market prices report showed September prices as of 
Sept. 17: CIF NOLA barge price was up $3 at $276 metric ton (mt) versus one 
week ago; FOB vessel Gulf price was up $6 at $288 mt; rail delivered PNW was 
down $5 at $303; and rail delivered to California was down $1 at $295 mt.

   The Energy Information Administration reported on Wednesday that overall 
ethanol production in the United States averaged 1.099 million bpd in the week 
ending September 11, unchanged from last week and 44,000 bpd, or 4.2% higher 
than in the same week last year. Four-week average output at 1.105 million bpd 
was 29,000 bpd above the same four weeks last year. Midwest ethanol production 
averaged 1.04 million bpd, up 2,000 bpd week-on-week and 43,000 bpd, or 4.3% 
higher than in the same week last year. Four-week average output at 1.048 
million bpd was 28,000 bpd above the same four weeks last year.

   Note: All prices subject to change/confirmation.

ALL PRICES SUBJECT TO CONFIRMATION           CURRENT       CURRENT     CHANGE
COMPANY    STATE                             9/17/2026     9/10/2026
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri                    Dry   $190          $190        $0
                                       Wet   $90           $90         $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                       Dry   $190          $185        $5
                                       Wet   $90           $85         $5
CHS, Minneapolis, MN (800-769-1066)
           Illinois                    Dry   $200          $195        $5
           Indiana                     Dry   $170          $170        $0
           Iowa                        Dry   $172          $170        $2
           Michigan                    Dry   $180          $180        $0
           Minnesota                   Dry   $170          $170        $0
           New York                    Dry   $205          $190        $15
           South Dakota                Dry   $185          $185        $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana                     Dry   $200          $200        $0
           Iowa                        Dry   $215          $200        $15
           Michigan                    Dry   $205          $200        $5
           Minnesota                   Dry   $205          $200        $5
           Missouri                    Dry   $210          $210        $0
           Ohio                        Dry   $200          $200        $0
           South Dakota                Dry   $200          $197        $3
           Nebraska                    Dry   $205          $215        -$10
United BioEnergy, Wichita, KS (316-616-3521)
           Kansas                      Dry   $195          $195        $0
                                       Wet   $65           $65         $0
           Ill Limited supply          Dry   $195          $195        $0
           Nebraska                    Dry   $185          $185        $0
                                       Wet   $65           $65         $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois                    Dry   $175          $165        $10
           Indiana                     Dry   $170          $160        $10
           Iowa                        Dry   $160          $155        $5
           Michigan                    Dry   $165          $160        $5
           Minnesota                   Dry   $165          $155        $10
           Nebraska                    Dry   $180          $175        $5
           New York                    Dry   $180          $170        $10
           North Dakota                Dry   $170          $170        $0
           Ohio                        Dry   $160          $150        $10
           South Dakota                Dry   $170          $170        $0
           Wisconsin                   Dry   $155          $145        $10
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
           FOB Pickett                 Dry   $170          $160        $10
Western Kansas
                                       Dry   $230          $231        -$1
                                       Wet   $78           $83         -$5
Western Milling
           California                  Dry   $278          $278        $0
**Weekly Average:                            $185          $181        $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.

   NOTE: DDG table uses the futures with the highest volume: Currently DEC

VALUE OF DDG VS. CORN & SOYBEAN MEAL
Settlement Price:                         Quote Date    Bushel    Short Ton
Corn                                      9/17/2026     $5.3050   $189.4643
Soybean Meal                              9/17/2026               $371.30
DDG Weekly Average Spot Price             9/17/2026               $185.00
DDG Value Relative to:                                  9/17      9/10
Corn                                                    0.976%    0.950%
Soybean Meal                                            49.82%    50.71%
Cost Per Unit of Protein:
DDG                                                     $6.85     $6.70
Soybean Meal                                            $7.82     $7.51
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 social platform X @MaryCKenn




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