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DDG Weekly Update             12/02 12:55

   DTN Weekly DDG Price Higher on Average

   DTN's weekly average spot price for domestic distillers dried grains was $1 
higher versus two weeks ago.

Mary Kennedy
DTN Basis Analyst

   MINNEAPOLIS (DTN) -- The DTN average price for domestic distillers dried 
grains (DDG) from 35 locations reporting for the week ended Dec. 1 was $235 per 
ton, up $1 on average versus two weeks ago. DDG prices were mixed this week but 
are finding support for the most part on stronger demand. Also, lower plant 
production has kept supplies from becoming burdensome.

   USGC added, "USDA's monthly Grain Crushings report showed DDGS production 
rose 8.2% from September and totaled 1.75 million tons in October. That volume 
was down 10.4% from October 2021, however, and the year-over-year production 
decrease has helped support prices this fall."

   The Energy Information Administration (EIA) Wednesday showed domestic 
production continued to seesaw. EIA reported domestic supply rose 105,000 
barrels (bbl) to a 12-week high 22.934 million bbl, 13% above the same time 
last year. Ethanol production in the United States reversed much of the prior 
week jump, sliding 23,000 barrels per day (bpd) or 2.2% through the week ended 
Nov. 25, to 1.018 million bpd, 1.6% below a year ago. Data show four-week 
average production at 1.030 million bpd was 23,000 bpd lower than the 
corresponding four weeks in 2021. Midwest ethanol production fell 19,000 bpd or 
1.9% to 962,000 bpd, down 1.6% from a year earlier.

   Based on the average of prices collected by DTN, the value of DDG relative 
to corn for the week ended Dec. 1 was 1.0123%. The value of DDG relative to 
soybean meal was 55.83%, and the cost per unit of protein for DDG was $8.70 
compared to the cost per unit of protein for soybean meal at $8.86.

   In its weekly DDGS export update, the U.S. Grains Council said: "On the 
export market, Barge CIF NOLA prices are $15 lower for spot shipment as barge 
rates have softened in the past two weeks. Offers for FOB NOLA DDGS are down 
$12 metric ton (mt) for spot shipment but only down $2 to $4 for Q1 2023 
positions with February shipments offered at $325 mt. Offers for 40-foot 
containers of DDGS are lower this week with noted pressure for spot shipment. 
December containers are down $4 mt at $388 mt this week while Q1 2023 positions 
are trading $3 to $7 higher at $395 to $398."

   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                            12/1/2022     11/17/2022
Bartlett and Company, Kansas City, MO (816 714 3413)
          Missouri                  Dry    $255          $265          -$10
                                    Wet    $155          $155          $0
Show Me Ethanol LLC, Carrollton, MO (660-542-6493)
                                    Dry    $250          $250          $0
                                    Wet    $135          $135          $0
CHS, Minneapolis, MN (800-769-1066)
          Illinois                  Dry    $225          $225          $0
          Indiana                   Dry    $210          $205          $5
          Iowa                      Dry    $220          $220          $0
          Michigan                  Dry    $210          $218          -$8
          Minnesota                 Dry    $205          $210          -$5
          New York                  Dry    $250          $255          -$5
          South Dakota              Dry    $235          $240          -$5
MGP Ingredients, Atchison, KS (800-255-0302)
                                    Dry    $250          $275          -$25
                                    Wet    $96           $95           $1
POET Nutrition, Sioux Falls, SD (888-327-8799)
          Indiana                   Dry    $235          $230          $5
          Iowa                      Dry    $250          $240          $10
          Michigan                  Dry    $225          $225          $0
          Minnesota                 Dry    $245          $230          $15
          Missouri                  Dry    $270          $250          $20
          Ohio                      Dry    $229          $225          $4
          South Dakota              Dry    $255          $250          $5
          Nebraska                  Dry    $270          $265          $5
United BioEnergy, Wichita, KS (316-616-3521)
          Kansas                    Dry    $290          $290          $0
          Call for Available        Wet*   $0            $0            $0
          Illinois                  Dry    $230          $230          $0
          Nebraska                  Dry    $290          $290          $0
          Call for Available        Wet*   $0            $0            $0
U.S. Commodities, Minneapolis, MN (888-293-1640)
          Illinois                  Dry    $220          $215          $5
          Indiana                   Dry    $205          $200          $5
          Iowa                      Dry    $210          $205          $5
          Michigan                  Dry    $215          $215          $0
          Minnesota                 Dry    $210          $210          $0
          Nebraska                  Dry    $255          $250          $5
          New York                  Dry    $250          $250          $0
          North Dakota              Dry    $250          $250          $0
          Ohio                      Dry    $220          $220          $0
          South Dakota              Dry    $215          $220          -$5
          Wisconsin                 Dry    $205          $205          $0
Fox River Valley Ethanol, Oshkosh WI 715-709-0269
                                    Dry    $220          $220          $0
          Western Kansas            Dry    $265          $265          $0
                                    Wet    $110          $110          $0
Western Milling, Goshen, California (559-302-1074)
          California                Dry    $343          $347          -$4
**Weekly Average:                          $235          $234          $1
(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                                   12/1/2022     $6.5000      $232.1429
Soybean Meal                           12/1/2022                  $420.90
DDG Weekly Average Spot Price                                     $235.00
DDG Value Relative to:                               12/1/2022    11/17/2022
Corn                                                 1.01%        0.98%
Soybean Meal                                         55.83%       57.68%
Cost Per Unit of Protein:
DDG                                                  $8.70        $8.67
Soybean Meal                                         $8.86        $8.54
Notes:
Corn and soybean prices taken 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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