DDGS Weekly Market Report – May 16, 2024

USDA reported DDGS prices averaged $171 per short ton in the May 10 National Weekly Ethanol Report. Prices were up $1 from the previous week and were down $8 from the previous month.

The DDGS/cash corn ratio was 1.07, up from 1.05 last week. The DDGS/KC soybean meal ratio was 0.45, steady with last week.

The EIA reported U.S. ethanol production averaged 1.00 million barrels per day (bpd) the week ending May 10. This was up 35,000 bpd (4%) week-over-week and up 13,000 bpd (1%) with production this time last year. The 4-week average production was 976 thousand bpd, up 4,000 bpd from last week. Production strongly increased this week after a long downtrend in April and early May. Prices increased modestly, marking the first DDGS price increase since mid-March.