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DDG Weekly Update             05/29 12:29

   DTN Weekly Average DDG Price Lower 

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

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 May 28, posted offers 
averaged $141 per ton, down $2 versus the prior week.

   The cash corn price has improved on average versus one week ago and basis 
has strengthened, but that has had little effect on current DDG prices. 
However, with DDG prices moving lower recently and plant production picking up, 
cattle and hog producers have started to use DDG again in rations.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended May 28 was 120.55%. The value of DDG relative to 
soybean meal was 49.59%. The cost per unit of protein for DDG was $5.22, 
compared to the cost per unit of protein for soybean meal at $5.99.

   Wednesday's Energy Information Administration ethanol report showed for the 
week ended May 22 that ethanol inventory was drawn down for the fifth 
consecutive week falling 400,000 bbl, to a 23.2 million bbl 19-week low, with 
supply 16.2% below a record high reached on April 17. Plant production outpaced 
the gain in blending activity for the week, up 61,000 barrels per day (bpd) to 
a 724,000 bpd eight-week high, the fourth consecutive week with higher output 
after falling to a more than 10-year low at 537,000 bpd. During the four-week 
period ended May 22, plant production averaged 38.2% below one 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                         5/28/2020      5/21/2020
Bartlett and Company, Kansas City, MO (816-753-6300)
            Missouri                Dry   $140           $145          -$5
                                    Wet   $70            $73           -$3
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   $155           $155          $0
            Indiana                 Dry   $145           $145          $0
            Iowa                    Dry   $130           $130          $0
            Michigan                Dry   $150           $150          $0
            Minnesota               Dry   $130           $130          $0
            North Dakota            Dry   $130           $130          $0
            New York                Dry   $195           $195          $0
            South Dakota            Dry   $125           $125          $0
MGP Ingredients, Atchison, KS (800-255-0302 Ext. 5253)
            Kansas APRIL            Dry   $130           $130          $0
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana                 Dry   $150           $155          -$5
            Iowa                    Dry   $142           $145          -$3
            Michigan                Dry   $155           $160          -$5
            Minnesota               Dry   $144           $145          -$1
            Missouri                Dry   $155           $155          $0
            Ohio                    Dry   $150           $155          -$5
            South Dakota            Dry   $150           $155          -$5
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas                  Dry   $0             $0            $0
                                    Wet   $0             $0            $0
            Illinois MARCH          Dry   $0             $0            $0
            Nebraska                Dry   $0             $0            $0
                                    Wet   $0             $0            $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois                Dry   $145           $145          $0
            Indiana                 Dry   $150           $150          $0
            Iowa                    Dry   $130           $130          $0
            Michigan                Dry   $145           $155          -$10
            Minnesota               Dry   $130           $130          $0
            Nebraska                Dry   $115           $120          -$5
            New York                Dry   $165           $170          -$5
            North Dakota            Dry   $120           $130          -$10
            Ohio                    Dry   $150           $150          $0
            South Dakota            Dry   $110           $125          -$15
            Wisconsin               Dry   $140           $150          -$10
Valero Energy Corp, San Antonio Texas
            Indiana                 Dry   $165           $165          $0
            Iowa                    Dry   $0             $0            $0
            Minnesota               Dry   $0             $0            $0
            Nebraska                Dry   $0             $0            $0
            Ohio                    Dry   $155           $155          $0
            South Dakota            Dry   $0             $0            $0
            California              Dry   $0             $0            $0
Western Milling, Goshen, California (559-302-1074)
            California              Dry   $205           $210          -$5
*Prices listed per ton.
            Weekly Average                $141           $143          -$2
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                                      5/28/2020      $3.2750   $116.96
Soybean Meal                              5/28/2020                $284.30
DDG Weekly Average Spot Price                                      $141.00
DDG Value Relative to:                                   5/28      5/22
Corn                                                     120.55%   126.01%
Soybean Meal                                             49.59%    50.62%
Cost Per Unit of Protein:
DDG                                                      $5.22     $5.30
Soybean Meal                                             $5.99     $5.95
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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