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DDG Weekly Update             06/24 12:08

   DTN Weekly DDG Average Price Continues to Weaken

   DTN's weekly average spot price for domestic distillers dried grains was $7 
lower on average versus one week ago.

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- The DTN average price for domestic distillers dried grains 
(DDG) from 34 locations reporting for the week ended June 23 was $231 per ton, 
down $7 on average versus one week ago. Prices continue to move lower, under 
pressure from lower corn and soybean meal prices and lack of demand nearby. The 
DTN National Corn Index is down 44 cents versus one week ago.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended June 23 was 86.61%. The value of DDG relative to 
soybean meal was 54.14%, and the cost per unit of protein for DDG was $8.56, 
compared to the cost per unit of protein for soybean meal at $8.98.

   In its weekly DDGS export update, the U.S. Grains Council said: "The 
volatility in outside grain and feed markets has impacted the DDGS market and 
indications are wide-ranging. Barge CIF NOLA offers are $4 to $6 metric ton 
(mt) higher, on average, with barge freight driving much of the increase. FOB 
NOLA offers are up $4 to $5/mt for spot shipment and up $2 to $3/mt for 
deferred positions. Prices for 40-foot containers to Southeast Asia are widely 
mixed this week with lower offers for product into the Philippines, Indonesia, 
and Malaysia (averaging $9/mt declines) but higher rates for product to 
Vietnam, Bangladesh, and Myanmar. The average price for containerized DDGS to 
Southeast Asia hit $414/mt this week."

   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                            6/23/2022     6/16/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
           Missouri                    Dry  $255          $260         -$5
                                       Wet  $150          $150         $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                       Dry  $255          $255         $0
                                       Wet  $125          $125         $0
CHS, Minneapolis, MN (800-769-1066)
           Illinois                    Dry  $230          $240         -$10
           Indiana                     Dry  $230          $235         -$5
           Iowa                        Dry  $225          $230         -$5
           Michigan                    Dry  $220          $230         -$10
           Minnesota                   Dry  $215          $225         -$10
           New York                    Dry  $230          $230         $0
           South Dakota                Dry  $220          $240         -$20
MGP Ingredients, Atchison, KS (800-255-0302)
                                       Dry  $220          $237         -$17
                                       Wet  $70           $77          -$7
POET Nutrition, Sioux Falls, SD (888-327-8799)
           Indiana                     Dry  $250          $257         -$7
           Iowa                        Dry  $240          $240         $0
           Michigan                    Dry  $245          $255         -$10
           Minnesota                   Dry  $250          $250         $0
           Missouri                    Dry  $270          $270         $0
           Ohio                        Dry  $250          $260         -$10
           South Dakota                Dry  $240          $240         $0
           Nebraska                    Dry  $240          $240         $0
United BioEnergy, Wichita, KS (316-616-3521)
           Kansas                      Dry  $240          $240         $0
                                       Wet  $90           $90          $0
           Illinois                    Dry  $240          $250         -$10
           Nebraska                    Dry  $230          $230         $0
                                       Wet  $90           $90          $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
           Illinois                    Dry  $220          $230         -$10
           Indiana                     Dry  $225          $235         -$10
           Iowa                        Dry  $200          $210         -$10
           Michigan                    Dry  $230          $240         -$10
           Minnesota                   Dry  $200          $210         -$10
           Nebraska                    Dry  $220          $230         -$10
           New York                    Dry  $235          $245         -$10
           North Dakota                Dry  $235          $245         -$10
           Ohio                        Dry  $220          $230         -$10
           South Dakota                Dry  $210          $215         -$5
           Wisconsin                   Dry  $215          $225         -$10
           Western Kansas              Dry  $265          $265         $0
                                       Wet  $115          $125         -10
Western Milling, Goshen, California (559-302-1074)
           California SUBJECT          Dry  $360          $360         $0
**Weekly Average:                           $231          $238         -$7
(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                                         6/23/2022    $7.4675   $266.70
Soybean Meal                                 6/23/2022              $426.70
DDG Weekly Average Spot Price                                       $231.00
DDG Value Relative to:                                    6/23      6/16
Corn                                                      86.61%    84.54%
Soybean Meal                                              54.14%    55.39%
Cost Per Unit of Protein:
DDG                                                       $8.56     $8.81
Soybean Meal                                              $8.98     $9.05
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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