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DDG Weekly Update             06/18 10:58

   DTN Weekly Average DDG Price Sharply Lower

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

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- The DTN average price for domestic distillers dried grains 
(DDG) with all 40 locations reporting this week ended June 17 was $189 per ton, 
down $17 from one week ago. DDG prices were sharply lower, due in part to the 
limit down close in corn on Thursday and the limit down moves in soybeans and 
soybean oil, pushing soybean meal lower. In addition, there has been plenty of 
DDG supply at plants and not enough spot buyers.

   Wednesday's Energy Information Administration report showed domestic ethanol 
plant production dropped 42,000 barrels per day (bpd) to 1.025 million bpd 
while four-week average output was 1.034 million bpd, down 2,000 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 June 17 was 83.60% versus the three-year average of 
110%. The value of DDG relative to soybean meal was 52.28% versus the 
three-year average of 42%. The cost per unit of protein for DDG was $7.00, 
compared to the cost per unit of protein for soybean meal at $7.61.

   In their weekly DDGS export price update, the U.S. Grains Council said, "On 
the international market, DDGS values are also lower with buyers assessing the 
freight market rally and the recent decline in CBOT futures. Barge CIF NOLA 
offers are down $3 per metric ton (MT) this week while FOB Gulf offers are 
$28-30/MT weaker, averaging $246/MT for July shipment. Prices for 40-foot 
containers to Southeast Asia are mixed, with offers for product into Myanmar 
and Thailand $3 to $4/MT higher while prices into Malaysia and Vietnam are down 
$4/MT. On average, containers to Southeast Asia are priced at $332/MT this 
week, down $3/MT from last week's trade."

   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                           6/17/2021       6/10/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
             Missouri                  Dry   $195            $220           -$25
                                       Wet   $98             $110           -$12
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                       Dry   $180            $215           -$35
                                       Wet   $85             $105           -$20
CHS, Minneapolis, MN (800-769-1066)
             Illinois                  Dry   $185            $210           -$25
             Indiana                   Dry   $185            $205           -$20
             Iowa                      Dry   $190            $210           -$20
             Michigan                  Dry   $185            $205           -$20
             Minnesota                 Dry   $180            $195           -$15
             North Dakota              Dry   $175            $195           -$20
             New York                  Dry   $220            $235           -$15
             South Dakota              Dry   $180            $195           -$15
POET Nutrition, Sioux Falls, SD (888-327-8799)
             Indiana                   Dry   $195            $210           -$15
             Iowa                      Dry   $199            $210           -$11
             Michigan                  Dry   $200            $210           -$10
             Minnesota                 Dry   $190            $210           -$20
             Missouri                  Dry   $219            $230           -$11
             Ohio                      Dry   $195            $210           -$15
             South Dakota              Dry   $199            $210           -$11
             Nebraska                  Dry   $195            $200           -$5
United BioEnergy, Wichita, KS (316-616-3521)
             Kansas                    Dry   $200            $230           -$30
                                       Wet   $80             $85            -$5
             Illinois                  Dry   $200            $215           -$15
             Nebraska                  Dry   $200            $230           -$30
                                       Wet   $80             $85            -$5
U.S. Commodities, Minneapolis, MN (888-293-1640)
             Illinois                  Dry   $190            $205           -$15
             Indiana                   Dry   $190            $208           -$18
             Iowa                      Dry   $175            $200           -$25
             Michigan                  Dry   $190            $205           -$15
             Minnesota                 Dry   $175            $195           -$20
             Nebraska                  Dry   $165            $190           -$25
             New York                  Dry   $235            $255           -$20
             North Dakota              Dry   $190            $205           -$15
             Ohio                      Dry   $205            $205           $0
             South Dakota              Dry   $170            $195           -$25
             Wisconsin                 Dry   $175            $195           -$20
Valero Energy Corp, San Antonio, Texas
             Indiana                   Dry   $200            $210           -$10
             Iowa                      Dry   $190            $200           -$10
             Minnesota                 Dry   $180            $195           -$15
             Nebraska                  Dry   $180            $200           -$20
             Ohio                      Dry   $200            $210           -$10
             South Dakota              Dry   $195            $200           -$5
Western Milling, Goshen, California (559-302-1074)
             California                Dry   $260            $280           -$20
*Prices listed per ton.
             Weekly Average                  $189            $206           -$17
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                                    6/17/2021     $6.3300   $226.07
Soybean Meal                            6/17/2021               $361.50
DDG Weekly Average Spot Price                                   $189.00
DDG Value Relative to:                                6/17      6/10
Corn                                                  83.60%    82.52%
Soybean Meal                                          52.28%    53.98%
Cost Per Unit of Protein:
DDG                                                   $7.00     $7.63
Soybean Meal                                          $7.61     $8.03
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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