DDGS Weekly Market Report – February 8, 2024

USDA reported DDGS prices averaged $206 per short ton in the February 2 National Weekly Ethanol Report. This was unchanged from last week.

The DDGS/cash corn ratio was 1.30, essentially unchanged from last week. The ratio has been hovering around 1.3 since late November 2023, and is significantly higher than it has been the past two years (1.00-1.15). The DDGS/KC soybean meal ratio was 0.56, down from 0.58 last week. This is the first week since October 2023 that this ratio has decreased week-over-week.

The most recent U.S. Grain Crushing’s report showed DDGS production in December 2023 was 1.95 million tons. This was up 9% from November 2023, and up 16% year-over-year. Wet mill corn gluten feed production was 246,000 tons in December 2023, down 3% year-over-year.