DDG Weekly Update             10/22 07:22

   DTN Weekly DDG Price Lower on Average 

   DTN's weekly average spot price for domestic distillers dried grains was 
down $2 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. 21 was $188 per ton, 
down $2 on average from one week ago. DDG prices were steady to slightly lower 
as supplies are plentiful and the market is slow right now, according to one 
merchandiser.

   Wednesday's Energy Information Administration (EIA) report showed domestic 
ethanol inventories increased in the week ended Oct. 15 as production at 
nationwide plants held higher, rising 6.2% on the week to the highest level in 
more than two years. Overall production was once again higher, up 64,000 
barrels per day (bpd) to 1.096 million bpd, the highest level since the first 
week of June 2019 and 20% above the same week in 2020. Midwest PADD 2 plant 
production jumped 64,000 bpd or 6.6% to 1.041 million bpd, a record high.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Oct. 21 was 98.90%. The value of DDG relative to 
soybean meal was 58.02% and the cost per unit of protein for DDG was $6.96, 
compared to the cost per unit of protein for soybean meal at $6.82.

   In its weekly DDGS export price update, the U.S. Grains Council said: "On 
the export market, barge CIF NOLA rates up $10 metric ton (mt) for Q4 shipment 
and up $8/mt for January 2022. FOB Gulf offers are down $3/mt this week with 
bids and offers both harder to obtain. Brokers say Asian demand remains quiet 
for containerized DDGS and prices are unchanged from last week at $351/mt for 
40-foot containers to Southeast Asia."

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

    

ALL PRICES SUBJECT TO CONFIRMATION    CURRENT          PREVIOUS        CHANGE
COMPANY     STATE                     10/21/2021       10/14/2021
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   $200             $205            -$5
                                Wet   $100             $100            $0
CHS, Minneapolis, MN (800-769-1066)
            Illinois            Dry   $170             $175            -$5
            Indiana             Dry   $165             $170            -$5
            Iowa                Dry   $165             $175            -$10
            Michigan            Dry   $175             $175            $0
            Minnesota           Dry   $180             $180            $0
            North Dakota        Dry   $185             $185            $0
            New York            Dry   $200             $195            $5
            South Dakota        Dry   $185             $185            $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana             Dry   $175             $175            $0
            Iowa                Dry   $180             $180            $0
            Michigan            Dry   $185             $185            $0
            Minnesota           Dry   $185             $185            $0
            Missouri            Dry   $205             $205            $0
            Ohio                Dry   $175             $175            $0
            South Dakota        Dry   $195             $195            $0
            Nebraska            Dry   $215             $215            $0
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas              Dry   $220             $220            $0
                                Wet   $80              $80             $0
            Illinois            Dry   $188             $180            $8
            Nebraska            Dry   $220             $220            $0
                                Wet   $80              $80             $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois            Dry   $180             $185            -$5
            Indiana             Dry   $180             $185            -$5
            Iowa                Dry   $180             $180            $0
            Michigan            Dry   $190             $190            $0
            Minnesota           Dry   $185             $190            -$5
            Nebraska            Dry   $200             $205            -$5
            New York            Dry   $210             $210            $0
            North Dakota        Dry   $200             $200            $0
            Ohio                Dry   $185             $185            $0
            South Dakota        Dry   $195             $200            -$5
            Wisconsin           Dry   $175             $175            $0
Western Milling, Goshen, California (559-302-1074)
            California          Dry   $275             $273            $2
*Prices listed per ton.               $188             $190            -$2
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                                      10/21/2021     $5.3225   $190.09
Soybean Meal                              10/21/2021               $324.00
DDG Weekly Average Spot Price                                      $188.00
DDG Value Relative to:                                   10/14     10/14
Corn                                                     98.90%    102.95%
Soybean Meal                                             58.02%    60.49%
Cost Per Unit of Protein:
DDG                                                      $6.96     $7.04
Soybean Meal                                             $6.82     $6.61
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




(c) Copyright 2021 DTN, LLC. All rights reserved.