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DDG Weekly Update             03/05 12:20

   DTN Weekly Average DDG Price Lower

   DTN's weekly spot price for domestic distillers dried grains was lower 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 March 4 
was $234 per ton, down $5 on average from one week ago. DDG prices were lower 
as logistics improved and plants increased production, recouping some of what 
was lost due to Winter Storm Uri related issues the prior week.

   Wednesday's Energy Information Administration report showed overall ethanol 
plant production increased 191,000 barrels per day (bpd) or 29% in the week 
ended Feb. 26 to 849,000 bpd while 19.4% lower than the corresponding week in 
2020. Four-week average output dropped 213,000 bpd against year ago to 838,000 
bpd.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended March 4 was 119.94% versus the five-year average of 
109%. The value of DDG relative to soybean meal was 55.97% versus the 
three-year average of 42%. The cost per unit of protein for DDG was $8.67, 
compared to the cost per unit of protein for soybean meal at $8.80.

   In their weekly export DDGS update, the U.S. Grains Council said that, 
"Improving river logistics are helping move CIF NOLA rates lower, with spot 
offers down $6 per metric ton (MT) and April/May down $16/MT at $288/MT. FOB 
NOLA offers are down $6/MT for March positions while second quarter offers are 
sharply lower at $296-297. Declining soymeal offers in the U.S. and Argentina 
have pressured DDGS values, but export interest remains strong. Prices for 
40-foot containers to Southeast Asia are down $5 to $10/MT this week and are 
averaging $348/MT."

   The U.S. Census Bureau said Friday that U.S. exports of DDGS totaled 916,541 
mt in January, up from 842,738 mt in December, but down 6% from a year ago. 
Mexico was the top destination in January, taking 20% of U.S. exports and was 
followed by South Korea and numerous other customers.

    

   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                          3/4/2021      2/25/2021
Bartlett and Company, Kansas City, MO (816 714 3413)
             Missouri                 Dry   $260          $263            -$3
                                      Wet   $130          $132            -$2
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
             W/O March 8              Dry   $250          $250            $0
                                      Wet   $125          $125            $0
CHS, Minneapolis, MN (800-769-1066)
             Illinois                 Dry   $235          $240            -$5
             Indiana                  Dry   $230          $235            -$5
             Iowa                     Dry   $230          $235            -$5
             Michigan                 Dry   $202          $232            -$30
             Minnesota                Dry   $220          $230            -$10
             North Dakota             Dry   $225          $225            $0
             New York                 Dry   $270          $275            -$5
             South Dakota             Dry   $220          $230            -$10
POET Nutrition, Sioux Falls, SD (888-327-8799)
             Indiana                  Dry   $240          $245            -$5
             Iowa                     Dry   $235          $240            -$5
             Michigan                 Dry   $240          $245            -$5
             Minnesota                Dry   $230          $235            -$5
             Missouri                 Dry   $260          $270            -$10
             Ohio                     Dry   $235          $240            -$5
             South Dakota             Dry   $235          $250            -$15
United BioEnergy, Wichita, KS (316-616-3521)
             Kansas                   Dry   $243          $243            $0
                                      Wet   $75           $75             $0
             Illinois                 Dry   $244          $244            $0
             Nebraska                 Dry   $243          $243            $0
                                      Wet   $75           $75             $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
             Illinois                 Dry   $240          $240            $0
             Indiana                  Dry   $235          $240            -$5
             Iowa                     Dry   $225          $230            -$5
             Michigan                 Dry   $230          $235            -$5
             Minnesota                Dry   $220          $225            -$5
             Nebraska                 Dry   $235          $235            $0
             New York                 Dry   $265          $285            -$20
             North Dakota             Dry   $235          $235            $0
             Ohio                     Dry   $230          $235            -$5
             South Dakota             Dry   $225          $230            -$5
             Wisconsin                Dry   $225          $230            -$5
Valero Energy Corp, San Antonio, Texas
             Indiana                  Dry   $230          $240            -$10
             Iowa                     Dry   $0            $0              $0
             Minnesota                Dry   $0            $0              $0
             Nebraska                 Dry   $0            $0              $0
             Ohio                     Dry   $235          $245            -$10
             South Dakota             Dry   $0            $0              $0
             California               Dry   $0            $0              $0
Western Milling, Goshen, California (559-302-1074)
             California               Dry   $310          $315            -$5
*Prices listed per ton.
             Weekly Average                 $234          $239            -$5
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                                    3/4/2021      $5.4625   $195.09
Soybean Meal                            3/4/2021                $418.10
DDG Weekly Average Spot Price                                   $234.00
DDG Value Relative to:                                3/4       2/25
Corn                                                  119.94%   120.63%
Soybean Meal                                          55.97%    56.35%
Cost Per Unit of Protein:
DDG                                                   $8.67     $8.85
Soybean Meal                                          $8.80     $8.93
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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