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DDG Weekly Update             07/23 11:52

   DTN Weekly Average DDG Price Turns Higher

   DTN's weekly average spot price for domestic distillers dried grains was 
higher versus one week ago.

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- The DTN average price for domestic distillers dried grains 
(DDG) from 33 locations reporting for the week ended July 22 was $177 per ton, 
up $7 from one week ago. Prices turned the corner finally and moved higher on 
average as the cash corn price is nearly unchanged versus last week, while cash 
soybean meal is slightly higher than last week. The demand in the export market 
this past week is also helping DDG prices firm.

   Wednesday's Energy Information Administration report showed domestic ethanol 
plant production fell for a second week, falling 13,000 barrels per day (bpd) 
or 1.2% to a five-week low 1.028 million bpd. Four-week average output was at 
1.048 million bpd, down 5,000 bpd from the four-week average the prior week.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended July 22 was 87.79% versus the three-year average of 
110%. The value of DDG relative to soybean meal was 48.73% versus the 
three-year average of 42%. The cost per unit of protein for DDG was $6.56, 
compared to the cost per unit of protein for soybean meal at $7.65.

   In their weekly DDGS export price update, the U.S. Grains Council said, 
"Export demand for DDGS has picked up this week with Barge CIF NOLA offers up 
$10 metric ton (mt) and FOB Gulf offers up $16/mt for August shipment and up 
$10-13/mt for deferred positions. August DDGS are offered at $236/mt this week 
with October/November offers near $265/mt. The Southeast Asia market has been 
active with early-week trades in the low $300s supporting offers. Offers for 
40-foot containers for shipment to Southeast Asia are up $11/mt this week at 
$311."

   NOTE: All prices listed below can change at any time and are subject to 
confirmation from seller.

ALL PRICES SUBJECT TO CONFIRMATION   CURRENT       CURRENT    CHANGE
COMPANY    STATE                     7/22/2021     7/15/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri             Dry  $190          $190       $0
                                Wet  $98           $98        $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                Dry  $190          $180       $10
                                Wet  $80           $80        $0
CHS, Minneapolis, MN (800-769-1066)
           Illinois             Dry  $185          $175       $10
           Indiana              Dry  $165          $160       $5
           Iowa                 Dry  $170          $160       $10
           Michigan             Dry  $170          $160       $10
           Minnesota            Dry  $168          $160       $8
           North Dakota         Dry  $175          $155       $20
           New York             Dry  $190          $195       -$5
           South Dakota         Dry  $175          $160       $15
POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana              Dry  $175          $165       $10
           Iowa                 Dry  $180          $180       $0
           Michigan             Dry  $175          $170       $5
           Minnesota            Dry  $180          $180       $0
           Missouri             Dry  $190          $180       $10
           Ohio                 Dry  $175          $165       $10
           South Dakota         Dry  $180          $175       $5
           Nebraska             Dry  $180          $165       $15
United BioEnergy, Wichita, KS (316-616-3521)
           Kansas               Dry  $170          $170       $0
                                Wet  $65           $65        $0
           Illinois             Dry  $185          $185       $0
           Nebraska             Dry  $170          $170       $0
                                Wet  $65           $65        $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois             Dry  $165          $160       $5
           Indiana              Dry  $175          $170       $5
           Iowa                 Dry  $165          $165       $0
           Michigan             Dry  $175          $170       $5
           Minnesota            Dry  $170          $165       $5
           Nebraska             Dry  $165          $158       $7
           New York             Dry  $220          $214       $6
           North Dakota         Dry  $200          $190       $10
           Ohio                 Dry  $175          $170       $5
           South Dakota         Dry  $185          $180       $5
           Wisconsin            Dry  $174          $170       $4
Valero Energy Corp, San Antonio, Texas
           Indiana
           Iowa
           Minnesota
           Nebraska
           Ohio
           South Dakota
Western Milling, Goshen, California (559-302-1074)
           California           Dry  $255          $250       $5
*Prices listed per ton.
           Weekly Average            $177          $170       $7
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.

    

VALUE OF DDG VS. CORN & SOYBEAN MEAL
Settlement Price:                Quote Date  Bushel  Short Ton
Corn                             7/22/2021   $5.6450 $201.61
Soybean Meal                     7/22/2021           $363.20
DDG Weekly Average Spot Price                        $177.00
DDG Value Relative to:                       7/22    7/15
Corn                                         87.79%  84.36%
Soybean Meal                                 48.73%  46.87%
Cost Per Unit of Protein:
DDG                                          $6.56   $6.30
Soybean Meal                                 $7.65   $7.64
Notes:
Corn and soybean prices take 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 Twitter @MaryCKenn




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