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DDG Weekly Update             10/15 12:05

   DTN Weekly DDG Price Lower on Average as Corn Prices Fell

   DTN's weekly average spot price for domestic distillers dried grains was 
down $4 on average 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 Oct. 14 was $190 per ton, 
down $4 on average from one week ago. DDG prices are lower as plant production 
rose again adding to supplies, along with a lower cash corn market as the DTN 
National Corn Index was 18 cents lower from one week ago.

   Wednesday's Energy Information Administration (EIA) report showed domestic 
ethanol inventories continued lower as stocks along the East Coast dropped to a 
better than one-year low while production at nationwide plants rose to the 
highest level in three months. Overall production continued higher, up 54,000 
barrels per day (bpd) to 1.032 million bpd, the highest output rate since the 
first week of July and 10.1% more than a year earlier. Midwest PADD 2 plant 
production jumped 40,000 bpd or 4.3% to 977,000 bpd, the highest level since 
mid-July.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Oct. 14 was 102.95%. The value of DDG relative to 
soybean meal was 60.49% and the cost per unit of protein for DDG was $7.04, 
compared to the cost per unit of protein for soybean meal at $6.61.

   In its weekly DDGS export price update, the U.S. Grains Council said: "On 
the export market, DDGS values are slightly lower with Barge CIF NOLA rates 
down $4 to $5 metric ton (mt) for Q4 shipment and down $1/mt for January 2022. 
A gradual weakening of CIF rates has helped CIF Gulf DDGS values ease lower as 
well. FOB Gulf offers are down $1/mt this week, on average, with the bid-ask 
spread widening slightly. Container freight rates have leveled off or posted 
small declines this week, which has allowed offers for 40-foot containers to 
move some $4/mt lower this week. Brokers say Asian demand remains quiet for 
containerized DDGS, but it is expected to increase later this fall."

   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                     10/14/2021       10/7/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
            Missouri            Dry   $205             $205           $0
                                Wet   $103             $103           $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                Dry   $205             $210           -$5
                                Wet   $100             $105           -$5
CHS, Minneapolis, MN (800-769-1066)
            Illinois            Dry   $175             $180           -$5
            Indiana             Dry   $170             $180           -$10
            Iowa                Dry   $175             $180           -$5
            Michigan            Dry   $175             $185           -$10
            Minnesota           Dry   $180             $185           -$5
            North Dakota        Dry   $185             $185           $0
            New York            Dry   $195             $215           -$20
            South Dakota        Dry   $185             $190           -$5
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana             Dry   $175             $180           -$5
            Iowa                Dry   $180             $185           -$5
            Michigan            Dry   $185             $190           -$5
            Minnesota           Dry   $185             $185           $0
            Missouri            Dry   $205             $205           $0
            Ohio                Dry   $175             $180           -$5
            South Dakota        Dry   $195             $200           -$5
            Nebraska            Dry   $215             $215           $0
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas              Dry   $220             $225           -$5
                                Wet   $80              $80            $0
            Illinois            Dry   $180             $190           -$10
            Nebraska            Dry   $220             $225           -$5
                                Wet   $80              $80            $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois            Dry   $185             $190           -$5
            Indiana             Dry   $185             $190           -$5
            Iowa                Dry   $180             $190           -$10
            Michigan            Dry   $190             $195           -$5
            Minnesota           Dry   $190             $193           -$3
            Nebraska            Dry   $205             $200           $5
            New York            Dry   $210             $210           $0
            North Dakota        Dry   $200             $200           $0
            Ohio                Dry   $185             $190           -$5
            South Dakota        Dry   $200             $200           $0
            Wisconsin           Dry   $175             $180           -$5
Western Milling, Goshen, California (559-302-1074)
            California          Dry   $273             $268           $5
*Prices listed per ton.               $190             $194           -$4
Weekly Average:
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                                      10/14/2021     $5.1675   $184.55
Soybean Meal                              10/14/2021               $314.10
DDG Weekly Average Spot Price                                      $190.00
DDG Value Relative to:                                   10/14     10/7
Corn                                                     102.95%   101.72%
Soybean Meal                                             60.49%    60.85%
Cost Per Unit of Protein:
DDG                                                      $7.04     $7.19
Soybean Meal                                             $6.61     $6.71
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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