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DDG Weekly Update             01/21 11:35

   Continued Demand Keeps DTN Average DDG Price Higher 

   DTN's weekly average spot price for domestic distillers dried grains was up 
$2 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 Jan. 20 was $212 per ton, 
up $2 per ton versus one week ago.

   There is still good demand from livestock feeders and while soybean meal 
futures have been fluctuating, cash soybean meal prices are still up about $25 
per ton since the beginning of January.

   Wednesday's Energy Information Administration (EIA) report showed that, 
while holding above the 1 million barrels per day (bpd) level for a 15th 
straight week, the second week of January marked the first uptick in overall 
ethanol output in three weeks, noted DTN Refined Fuels. U.S. plant production 
of ethanol rose 47,000 bpd to 1.053 million bpd last week, 11.4% more than the 
same week in 2021. Ethanol plant production in PADD 2 also rose 47,000 bpd 
through Jan. 14 to 994,000 bpd.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Jan. 20 was 97.15%. The value of DDG relative to 
soybean meal was 52.89%, and the cost per unit of protein for DDG was $7.85, 
compared to the cost per unit of protein for soybean meal at $8.44.

   In their weekly DDGS update, the U.S. Grains Council said, "Cold weather and 
the associated logistical difficulties are impacting barge markets and pushing 
freight rates higher, which, in turn, is supporting export destined DDGS 
prices. Gains in barge freight rates have pushed offers for DDGS. Barge CIF 
NOLA up $7 metric ton (mt) for February while March and April offers are up $5 
mt. Similarly, FOB NOLA offers are up $11 mt to $298 mt for February, while 
March positions are up $8 mt at $287. Prices for DDGS containers to Southeast 
Asia are mostly higher this week, rising $3 to $8 mt for February through April 
positions. Like last week, brokers report steady increases in export interest 
but that both buyers and sellers remain patient. Prices for 40-foot containers 
into Southeast Asia are averaging $365 mt so far 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                         1/21/2022      1/13/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
            Missouri                Dry   $240           $225          $15
                                    Wet   $125           $120          $5
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                    Dry   $235           $235          $0
                                    Wet   $130           $130          $0
CHS, Minneapolis, MN (800-769-1066)
            Illinois                Dry   $205           $200          $5
            Indiana                 Dry   $200           $200          $0
            Iowa                    Dry   $205           $200          $5
            Michigan                Dry   $185           $185          $0
            Minnesota               Dry   $195           $190          $5
            New York                Dry   $210           $210          $0
            South Dakota            Dry   $208           $205          $3
MGP Ingredients, Atchison, KS (800-255-0302)
                                    Dry   $220           $220          $0
                                    Wet   $75            $73           $2
POET Nutrition, Sioux Falls, SD (888-327-8799)
            Indiana                 Dry   $205           $205          $0
            Iowa                    Dry   $230           $230          $0
            Michigan                Dry   $205           $205          $0
            Minnesota               Dry   $230           $230          $0
            Missouri                Dry   $235           $235          $0
            Ohio                    Dry   $205           $205          $0
            South Dakota            Dry   $235           $235          $0
            Nebraska                Dry   $240           $240          $0
United BioEnergy, Wichita, KS (316-616-3521)
            Kansas                  Dry   $225           $225          $0
                                    Wet   $85            $85           $0
            Illinois                Dry   $200           $205          -$5
            Nebraska                Dry   $225           $225          $0
                                    Wet   $85            $85           $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
            Illinois                Dry   $200           $200          $0
            Indiana                 Dry   $195           $195          $0
            Iowa                    Dry   $200           $195          $5
            Michigan                Dry   $195           $190          $5
            Minnesota               Dry   $185           $185          $0
            Nebraska                Dry   $225           $225          $0
            New York                Dry   $210           $210          $0
            North Dakota            Dry   $225           $225          $0
            Ohio                    Dry   $195           $190          $5
            South Dakota            Dry   $205           $205          $0
            Wisconsin               Dry   $195           $187          $8
            Western Kansas          Dry   $270           $265          $5
                                    Wet   $100           $100          0
            Central Kansas          Dry   $240           $240          0
                                    Wet   $85            $85           0
Western Milling, Goshen, California (559-302-1074)
            California              Dry   $293           $297          -$4
**Weekly Average:                         $212           $210          $2
(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                                      1/20/2022      $6.1100   $218.21
Soybean Meal                              1/20/2022                $400.80
DDG Weekly Average Spot Price                                      $212.00
DDG Value Relative to:                                   1/20      1/13
Corn                                                     97.15%    100.01%
Soybean Meal                                             52.89%    49.56%
Cost Per Unit of Protein:
DDG                                                      $7.85     $7.78
Soybean Meal                                             $8.44     $8.92
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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