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DDG Weekly Update             08/05 11:48

   DTN Weekly DDG Average Price Turns Lower

   DTN's weekly average spot price for domestic distillers dried grains was $3 
lower versus one week ago.

Mary Kennedy
DTN Basis Analyst

   MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried 
grains (DDG) from 34 locations reporting for the week ended Aug. 4 was $229 per 
ton, down $3 versus one week ago. Spot demand is slow this time of year and 
with plant production increasing, there are plenty of DDG supplies to move.

   The Energy Information Administration (EIA) said Wednesday output at 
domestic ethanol plants rose 2.2% or 22,000 barrels per day (bpd) to 1.043 
million bpd, 3% higher than the same week in 2021. Ethanol plant output 
averaged 1.026 million bpd during the four weeks ended July 29, up 2,000 bpd 
versus the same four weeks a year earlier.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Aug. 4 was 1.07%. The value of DDG relative to 
soybean meal was 44.58%, and the cost per unit of protein for DDG was $8.48, 
compared to the cost per unit of protein for soybean meal at $10.81. DTN's 
estimates moved to utilizing September futures since July has gone off the 
board.

   In its weekly DDGS export update, the U.S. Grains Council said: "Barge CIF 
NOLA DDGS values are down $15 metric ton (mt) for spot shipment but saw better 
support in deferred positions. FOB NOLA values are down $11/mt for last-half 
August and September shipment and down $16/mt for October. Offers for 40-foot 
containers to Southeast Asia are down $3/mt this week amid the pullback in 
ocean freight and domestic values.

   "U.S. rail rates are lower this week as logistics issues continue to hamper 
than market. Offers for rail delivered DDGS into California or Texas are down 
$2 to $3/mt this week while offers into the PNW fell $15/mt."

   USDA reported Thursday that U.S. exports of DDGS totaled 1,011,133 mt in 
June, up from 966,108 mt in May and up 8% from a year ago. Vietnam was the top 
destination in June, taking 20% of U.S. exports and was followed by Mexico and 
Turkey. In the first six months of 2022, U.S. exports of DDGS were up 5%.

    

   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                         8/4/2022     7/28/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
            Missouri                Dry   $260         $260           $0
                                    Wet   $155         $155           $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                    Dry   $260         $265           -$5
                                    Wet   $125         $130           -$5
CHS, Minneapolis, MN (800-769-1066)
            Illinois                Dry   $215         $220           -$5
            Indiana                 Dry   $215         $215           $0
            Iowa                    Dry   $220         $225           -$5
            Michigan                Dry   $200         $205           -$5
            Minnesota               Dry   $200         $200           $0
            New York                Dry   $205         $200           $5
            South Dakota            Dry   $215         $215           $0
MGP Ingredients, Atchison, KS (800-255-0302)
                                    Dry   $240         $235           $5
                                    Wet   $70          $70            $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana                 Dry   $245         $245           $0
            Iowa                    Dry   $245         $245           $0
            Michigan                Dry   $235         $235           $0
            Minnesota               Dry   $245         $245           $0
            Missouri                Dry   $275         $275           $0
            Ohio                    Dry   $245         $245           $0
            South Dakota            Dry   $245         $245           $0
            Nebraska                Dry   $245         $245           $0
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas                  Dry   $245         $240           $5
                                    Wet   $90          $90            $0
            Illinois                Dry   $215         $220           -$5
            Nebraska                Dry   $240         $230           $10
                                    Wet   $90          $90            $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois                Dry   $220         $227           -$7
            Indiana                 Dry   $210         $230           -$20
            Iowa                    Dry   $215         $210           $5
            Michigan                Dry   $210         $235           -$25
            Minnesota               Dry   $210         $210           $0
            Nebraska                Dry   $235         $235           $0
            New York                Dry   $245         $245           $0
            North Dakota            Dry   $210         $220           -$10
            Ohio                    Dry   $215         $230           -$15
            South Dakota            Dry   $215         $225           -$10
            Wisconsin               Dry   $210         $225           -$15
            Western Kansas          Dry   $245         $245           $0
                                    Wet   $105         $105           $0
Western Milling, Goshen, California (559-302-1074)
            California              Dry
**Weekly Average:                         $229         $232           -$3
(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                                         8/4/2022     $6.0225   $215.09
Soybean Meal                                 8/4/2022               $513.70
DDG Weekly Average Spot Price                                       $229.00
DDG Value Relative to:                                    8/4       7/28
Corn                                                      1.07%     1.06%
Soybean Meal                                              44.58%    47.37%
Cost Per Unit of Protein:
DDG                                                       $8.48     $8.59
Soybean Meal                                              $10.81    $10.31
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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