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DDG Weekly Update             08/07 11:55

   DTN Weekly Average DDG Price Steady

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

Mary Kennedy
DTN Basis Analyst

   OMAHA (DTN) -- Of the 40 locations DTN contacted with spot offers for 
domestic distillers dried grains (DDG) for the week ended August 6, prices were 
at $128 per ton, unchanged on average versus the prior week.

   The DTN National Corn Index was 4 cents lower versus one week ago, and the 
national average basis was unchanged, but DDG prices remained steady, on 
average, this week.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Aug. 6 was 115.15%, and the value of DDG relative to 
soybean meal was 45.60%. The cost per unit of protein for DDG was $4.74, 
compared to the cost per unit of protein for soybean meal at $5.91. Cash 
soybean meal prices have dropped $8 to $9 per ton versus one week ago.

   In its weekly export DDGS update, the U.S. Grains Council said: "Offers for 
DDGS on the export market are mostly steady this week with barge CIF NOLA 
values down $3 per metric ton (mt) for September shipment and up $5/mt for 
October. FOB Gulf values are down $1/mt for spot shipment and up $3/mt for 
October as demand for fall positions is increasing. U.S. rail rates are 
slightly lower this week while asking prices for 40-foot containers to 
Southeast Asia are up $4-$7/mt. The average asking price for spot containers to 
Southeast Asia is $240/mt this week."

   The Energy Information Administration said ethanol inventory in the U.S. 
edged higher in the final week of July as demand fell after two straight weekly 
gains, down 1.1%, while production backed off an 18-week high. Ethanol plant 
production fell 27,000 barrels per day (bpd) in the week profiled, a little 
more than half the increase the week prior. At 931,000 bpd, ethanol plant 
production was 10.5% lower than the corresponding week in 2019. Four-week 
average output is down 112,000 bpd against year ago at 932,000 bpd.

   The U.S. Census Bureau said Wednesday that U.S. exports of DDGS totaled 
883,193 mt in June, down from 601,029 mt in May and down 8% from a year ago. 
Thailand was the top destination in June, taking 24% of U.S. exports and were 
followed by Mexico and Vietnam. For the first six months of 2020, U.S. exports 
of DDGS were down 7% from a year ago.

   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                                8/6/2020 7/30/2020
Bartlett and Company, Kansas City, MO (816-753-6300) (816 714 3413)
                Missouri                     Dry     $140     $138      $2
                                             Wet     $70      $70       $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                Missouri                     Dry     $140     $135      $5
                                             Wet     $70      $70       $0
CHS, Minneapolis, MN (800-769-1066)
                Illinois                     Dry     $140     $140      $0
                Indiana                      Dry     $130     $130      $0
                Iowa                         Dry     $120     $120      $0
                Michigan                     Dry     $130     $130      $0
                Minnesota                    Dry     $115     $115      $0
                North Dakota                 Dry     $115     $115      $0
                New York                     Dry     $135     $135      $0
                South Dakota                 Dry     $105     $105      $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
                Kansas                       Dry     $130     $125      $5
POET Nutrition, Sioux Falls, SD (888-327-8799)
                Indiana                      Dry     $140     $140      $0
                Iowa                         Dry     $120     $120      $0
                Michigan                     Dry     $130     $130      $0
                Minnesota                    Dry     $120     $120      $0
                Missouri                     Dry     $145     $145      $0
                Ohio                         Dry     $140     $140      $0
                South Dakota                 Dry     $123     $125      -$2
United BioEnergy, Wichita, KS (316-616-3521)
                Kansas                       Dry     $130     $130      $0
                                             Wet     $40      $40       $0
                Illinois                     Dry     $140     $140      $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     $135     $135      $0
                Iowa                         Dry     $120     $120      $0
                Michigan                     Dry     $130     $130      $0
                Minnesota                    Dry     $120     $120      $0
                Nebraska                     Dry     $115     $115      $0
                New York                     Dry     $150     $150      $0
                North Dakota                 Dry     $115     $115      $0
                Ohio                         Dry     $135     $135      $0
                South Dakota                 Dry     $105     $105      $0
                Wisconsin                    Dry     $130     $130      $0
Valero Energy Corp, San Antonio Texas
                Indiana                      Dry     $147     $153      -$6
                Iowa                         Dry     $0       $0        $0
                Minnesota                    Dry     $0       $0        $0
                Nebraska                     Dry     $0       $0        $0
                Ohio                         Dry     $137     $143      -$6
                South Dakota                 Dry     $0       $0        $0
                California                   Dry     $0       $0        $0
Western Milling, Goshen, California (559-302-1074)
                California                   Dry     $200     $201      -$1
*Prices listed per ton.
                Weekly Average                       $128     $128      $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                                      8/6/2020       $3.1125   $111.16
Soybean Meal                              8/6/2020                 $280.70
DDG Weekly Average Spot Price                                      $128.00
DDG Value Relative to:                                   8/6       7/30
Corn                                                     115.15%   113.51%
Soybean Meal                                             45.60%    44.17%
Cost Per Unit of Protein:
DDG                                                      $4.74     $4.74
Soybean Meal                                             $5.91     $6.10
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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