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DDG Weekly Update             07/10 12:32

   DTN Weekly Average DDG Price Moves Slightly Lower

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

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- Of the 40 locations DTN contacted that showed offers for 
domestic distillers dried grains (DDG) for the week ended July 9, posted offers 
were mixed but $1 lower on average at $130 per ton versus the prior week. The 
cash corn price has fluctuated in the past week and was pretty close to 
unchanged at midweek compared to our last price report. DDG demand is still 
weak as maintenance diets are still being used by feeders and the recent 
stretch of hot weather brings down caloric intake for livestock.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended July 9 was 103.63%. The value of DDG relative to 
soybean meal was 44.05%. The cost per unit of protein for DDG was $4.81, 
compared to the cost per unit of protein for soybean meal at $6.21.

   Wednesday's Energy Information Administration ethanol report noted for the 
week ended July 3, ethanol inventory in the U.S. moved off the lowest level 
since the first week of January 2017, rising for the first time in 11 weeks, 
but was at a 10.4% year-over-year supply deficit. The gain came through 
blending activity, which rose 2.5% on the week; blending activity during the 
four weeks ended July 3 averaged 825,000 barrels per day (bpd), 121,000 bpd 
below the comparable year-ago period. Ethanol plant production continued 
higher, up 14,000 bpd to 914,000 bpd, but down 133,000 bpd or 12.7% against 
year ago. The four-week average output is down 183,000 bpd against a year ago 
at 887,000 bpd.

   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                      7/9/2020    7/1/2020
Bartlett and Company, Kansas City, MO (816-753-6300)
            Missouri             Dry   $135        $140       -$5
                                 Wet   $68         $70        -$2
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
            Missouri             Dry   $140        $140       $0
                                 Wet   $75         $75        $0
CHS, Minneapolis, MN (800-769-1066)
            Illinois             Dry   $140        $145       -$5
            Indiana              Dry   $142        $148       -$6
            Iowa                 Dry   $120        $125       -$5
            Michigan             Dry   $138        $140       -$2
            Minnesota            Dry   $120        $125       -$5
            North Dakota         Dry   $120        $125       -$5
            New York             Dry   $145        $150       -$5
            South Dakota         Dry   $110        $115       -$5
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
            Kansas               Dry   $125        $120       $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana              Dry   $140        $135       $5
            Iowa                 Dry   $121        $125       -$4
            Michigan             Dry   $135        $135       $0
            Minnesota            Dry   $120        $130       -$10
            Missouri             Dry   $145        $145       $0
            Ohio                 Dry   $140        $135       $5
            South Dakota         Dry   $125        $127       -$2
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas               Dry   $130        $130       $0
                                 Wet   $40         $40        $0
            Illinois             Dry   $142        $142       $0
            Nebraska             Dry   $130        $130       $0
                                 Wet   $40         $40        $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois             Dry   $135        $135       $0
            Indiana              Dry   $140        $140       $0
            Iowa                 Dry   $120        $120       $0
            Michigan             Dry   $135        $135       $0
            Minnesota            Dry   $120        $120       $0
            Nebraska             Dry   $105        $105       $0
            New York             Dry   $155        $155       $0
            North Dakota         Dry   $110        $110       $0
            Ohio                 Dry   $140        $140       $0
            South Dakota         Dry   $100        $100       $0
            Wisconsin            Dry   $130        $130       $0
Valero Energy Corp, San Antonio Texas
            Indiana              Dry   $154        $154       $0
            Iowa                 Dry   $0          $0         $0
            Minnesota            Dry   $0          $0         $0
            Nebraska             Dry   $0          $0         $0
            Ohio                 Dry   $145        $145       $0
            South Dakota         Dry   $0          $0         $0
            California           Dry   $0          $0         $0
Western Milling, Goshen, California (559-302-1074)
            California           Dry   $204        $202       $2
*Prices listed per ton.
            Weekly Average             $130        $131       -$1
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                             7/9/2020    $3.5125 $125.45
Soybean Meal                     7/9/2020            $295.10
DDG Weekly Average Spot Price                        $130.00
DDG Value Relative to:                       7/9     7/1
Corn                                         103.63% 105.33%
Soybean Meal                                 44.05%  44.76%
Cost Per Unit of Protein:
DDG                                          $4.81   $4.85
Soybean Meal                                 $6.21   $6.16
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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