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DDG Weekly Update             04/16 11:20

   DTN Weekly Average DDG Price Steady

   DTN's weekly spot price for domestic distillers dried grains was unchanged 
on average versus a week ago.

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- The average price for domestic distillers dried grains (DDG) 
from the 39 locations DTN contacted with spot offers for the week ended April 
15 was $212 per ton, unchanged from one week ago.

   DDG prices were mixed this week as soymeal prices backed off. Traders note 
DDG prices for late summer and early fall have been starting to strengthen. The 
expanding drought covering much of the western U.S. is affecting pasture and 
range conditions and forage growth, causing feeders to look for replacement 
feed. The USDA weekly crop progress for the week ended April 11 noted that hay 
and roughage supplies in North Dakota were rated 16% very short, 32% short; 
Utah was rated 10% very short, 30% short; Wyoming was rated 21% very short, 26% 
short; and New Mexico was rated 40% very short, 38% short.

   Wednesday's Energy Information Administration report showed overall ethanol 
plant production dropped 34,000 barrels per day (bpd) or 3.5% to 941,000 bpd. 
Four-week average output at 955,000 bpd was 179,000 bpd higher than the 
corresponding four weeks in 2020.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended April 15 was 100.61% versus the five-year average of 
109%. The value of DDG relative to soybean meal was 52.75% versus the 
three-year average of 42%. The cost per unit of protein for DDG was $7.85, 
compared to the cost per unit of protein for soybean meal at $8.46.

   In their weekly DDGS export price update, the U.S. Grains Council said, "On 
the export front, markets are stronger with a decrease in freight values 
attracting additional buying interest. Barge CIF NOLA offers are up $2 to $3 
metric ton (mt) for Q2 positions while FOB Gulf offers are up $7 to $8/mt for 
May-July. U.S. rail rates are mostly steady while 40-foot containers to 
Southeast Asia are down $5 to $6/mt, averaging $335/mt this week for May/June."

   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                     4/15/2021     4/8/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri             Dry  $220          $225       -$5
                                Wet  $110          $113       -$3
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                Dry  $215          $210       $5
                                Wet  $108          $105       $3
CHS, Minneapolis, MN (800-769-1066)
           Illinois             Dry  $212          $208       $4
           Indiana              Dry  $208          $208       $0
           Iowa                 Dry  $212          $208       $4
           Michigan             Dry  $210          $210       $0
           Minnesota            Dry  $210          $210       $0
           North Dakota         Dry  $210          $210       $0
           New York             Dry  $225          $225       $0
           South Dakota         Dry  $210          $208       $2
POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana              Dry  $215          $215       $0
           Iowa                 Dry  $210          $205       $5
           Michigan             Dry  $210          $210       $0
           Minnesota            Dry  $205          $205       $0
           Missouri             Dry  $234          $230       $4
           Ohio                 Dry  $210          $210       $0
           South Dakota         Dry  $208          $205       $3
United BioEnergy, Wichita, KS (316-616-3521)
           Kansas               Dry  $230          $230       $0
                                Wet  $85           $85        $0
           Illinois             Dry  $215          $212       $3
           Nebraska             Dry  $230          $230       $0
                                Wet  $85           $85        $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois             Dry  $215          $215       $0
           Indiana              Dry  $210          $215       -$5
           Iowa                 Dry  $200          $205       -$5
           Michigan             Dry  $210          $210       $0
           Minnesota            Dry  $205          $210       -$5
           Nebraska             Dry  $205          $210       -$5
           New York             Dry  $235          $240       -$5
           North Dakota         Dry  $200          $210       -$10
           Ohio                 Dry  $205          $210       -$5
           South Dakota         Dry  $200          $200       $0
           Wisconsin            Dry  $205          $205       $0
Valero Energy Corp, San Antonio, Texas
           Indiana              Dry  $210          $210       $0
           Iowa                 Dry  $0            $0         $0
           Minnesota            Dry  $0            $0         $0
           Nebraska             Dry  $0            $0         $0
           Ohio                 Dry  $220          $220       $0
           South Dakota         Dry  $0            $0         $0
           California           Dry  $0            $0         $0
Western Milling, Goshen, California (559-302-1074)
           California           Dry  $286          $286       $0
*Prices listed per ton.
           Weekly Average            $212          $212       $0
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                             4/15/2021   $5.9000 $210.71
Soybean Meal                     4/15/2021           $401.90
DDG Weekly Average Spot Price                        $212.00
DDG Value Relative to:                       4/15    4/8
Corn                                         100.61% 102.39%
Soybean Meal                                 52.75%  52.11%
Cost Per Unit of Protein:
DDG                                          $7.85   $7.85
Soybean Meal                                 $8.46   $8.56
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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