US DDG Spot Price Unchanged Amid Heat-Related Demand Drop

The average spot price for domestic distillers dried grains (DDG) in the US remained unchanged at $155 per short ton as of July 30, according to DTN's weekly data. This stability comes despite some merchandisers reporting that extreme heat has reduced demand for DDG.

DTN's National Average Corn Index dropped by 18 cents per bushel (basis SEP) compared to the previous week, while soybean meal prices decreased by $9.10 per short ton (basis DEC). The value of DDG relative to corn was 0.926%, and its value relative to soybean meal was 48.02%.

U.S. Grains and Bioproducts Council reported that export market prices for DDGS were mixed, with the CIF NOLA barge price down $7 at $218 metric ton (mt) versus the previous week. Meanwhile, ethanol production in the US averaged 1.133 million barrels per day in the week ending July 24, up from 39,000 bpd week-on-week and 37,000 bpd year-over-year.