DDGS Weekly Market Report – May 9, 2024

USDA reported DDGS prices averaged $170 per short ton in the May 3 National Weekly Ethanol Report. Prices were down $3 from the previous week and were down $9 from the previous month.

The DDGS/cash corn ratio was 1.05, down from 1.10 last week. The DDGS/KC soybean meal ratio was 0.45, down from 0.49 last week.

The EIA reported U.S. ethanol production averaged 965 thousand barrels per day (bpd) the week ending May 3. This was down 22,000 bpd (2%) week-over-week and even with production this time last year. The 4-week average production was 792 thousand bpd, down 23,000 bpd from last week. Production resumed its decline after rebounding last week.