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DDG Weekly Update             05/20 10:25

   DTN Weekly DDG Price Falls Lower on Average

   DTN's weekly average spot price for domestic distillers dried grains was $17 
lower on average versus two weeks ago.

Mary Kennedy
DTN Basis Analyst

    

   OMAHA (DTN) -- The DTN average price for domestic distillers dried grains 
(DDG) from 34 locations reporting for the week ended May 19 was $269 per ton, 
down $17 on average versus two weeks ago. While strength in soybean meal is 
supportive to DDG prices, prices overall have been weaker since the beginning 
of May due in part to lower cash corn prices. The DTN National Corn Index on 
May 1 was at $8 versus the May 19 index at $7.76.

   The Energy Information Administration report Wednesday showed a draw in 
domestic ethanol inventory through the week ending May 13 as demand nears a 
seven-month high, while production was flat on the week. EIA reported 
production at U.S. ethanol plants remained at 991,000 barrels per day (bpd) 
through May 13, 4% below the same week in 2021. Plant output averaged 889,000 
bpd during the four weeks ended May 13 -- 5,000 bpd higher than during the 
comparable four weeks a year ago.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended May 19 was 96.16%. The value of DDG relative to 
soybean meal was 63.25%, and the cost per unit of protein for DDG was $9.96, 
compared to the cost per unit of protein for soybean meal at $8.95.

   In its weekly DDGS export update, the U.S. Grains Council said: "On the 
export market, brokers and exporters report that barge CIF NOLA values are up 
$11 metric ton (mt) for June through August as buyers stepped up following the 
recent declines. FOB Gulf offers are up $13/mt in tandem with strength in the 
barge market and fresh export interest. Container offers are up $2 to $5/mt 
this week on gains in ocean freight. The average offer for 40-foot containers 
to Southeast Asia is $425/mt for June-August shipment."

    

   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                         5/19/2022      5/5/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
            Missouri                Dry   $270           $295         -$25
                                    Wet   $155           $160         -$5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                    Dry   $260           $280         -$20
                                    Wet   $130           $150         -$20
CHS, Minneapolis, MN (800-769-1066)
            Illinois                Dry   $255           $260         -$5
            Indiana                 Dry   $245           $260         -$15
            Iowa                    Dry   $260           $270         -$10
            Michigan                Dry   $255           $265         -$10
            Minnesota               Dry   $260           $265         -$5
            New York                Dry   $265           $285         -$20
            South Dakota            Dry   $280           $285         -$5
MGP Ingredients, Atchison, KS (800-255-0302)
                                    Dry   $250           $290         -$40
                                    Wet   $85            $102         -$17
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana                 Dry   $270           $285         -$15
            Iowa                    Dry   $280           $295         -$15
            Michigan                Dry   $265           $280         -$15
            Minnesota               Dry   $275           $290         -$15
            Missouri                Dry   $295           $315         -$20
            Ohio                    Dry   $270           $285         -$15
            South Dakota            Dry   $290           $310         -$20
            Nebraska                Dry   $270           $300         -$30
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas                  Dry   $310           $330         -$20
                                    Wet   $110           $110         $0
            Illinois                Dry   $265           $295         -$30
            Nebraska                Dry   $310           $330         -$20
                                    Wet   $110           $110         $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois                Dry   $265           $280         -$15
            Indiana                 Dry   $270           $290         -$20
            Iowa                    Dry   $255           $265         -$10
            Michigan                Dry   $268           $275         -$7
            Minnesota               Dry   $255           $270         -$15
            Nebraska                Dry   $265           $290         -$25
            New York                Dry   $290           $305         -$15
            North Dakota            Dry   $275           $295         -$20
            Ohio                    Dry   $250           $280         -$30
            South Dakota            Dry   $289           $295         -$6
            Wisconsin               Dry   $250           $267         -$17
            Western Kansas          Dry   $335           $365         -$30
                                    Wet   $140           $125         $15
Western Milling, Goshen, California (559-302-1074)
            California              Dry   $375           $400         -$25
**Weekly Average:                         $269           $286         -$17
(Prices listed per ton)
**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                                         5/19/2022    $7.8325   $279.73
Soybean Meal                                 5/19/2022              $425.30
DDG Weekly Average Spot Price                                       $269.00
DDG Value Relative to:                                    5/19      5/5
Corn                                                      96.16%    99.63%
Soybean Meal                                              63.25%    66.99%
Cost Per Unit of Protein:
DDG                                                       $9.96     $10.59
Soybean Meal                                              $8.95     $8.99
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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