Saturday Morning Iowa Ethanol Plant Report

Corn is spot bid at selected Ethanol plants in Iowa as of 8:00 A.M.  Distiller 
Grains with Solubles (DGS) is FOB the plant.  Ethanol is the spot market, FOB 
the plant.  Prices quoted: corn dollars/bushel, DGS dollars/ton, ethanol 
dollars/gallon, corn oil cents/pound

              Bids           Change (¢/bu)      Basis         Change
Yellow Corn E 4.6800-5.0000  UP 7.5             -24K to 8K    UNCH
            W 4.5000-4.8200  UP 7.5             -42K to -10K  UNCH

              Offers         Change ($/ton)
Dried Distillers Grain  (10% Moisture)
            E 235.00-260.00  UNCH-UP 10
            W 230.00-255.00  UP 4-UNCH
       Mostly 240.00-255.00

Modified Wet Distillers Grain (50-55% Moisture)
            E 75.00-105.00   DN 8-UNCH
            W 75.00-110.00   DN 8-DN 10
       Mostly 90.00-105.00

Wet Distillers Grain (65-70% Moisture)
        E & W 52.00-65.00    UNCH-DN 10

Ethanol       W/E Mar 28     Change ($/gal)
        E & W 3.00-3.30      UP 0.30

Distillers Corn Oil
(DCO)         W/E Mar 28     Change (¢/lb)
        E & W 32.00-36.00    UNCH-UP 1.00
       Mostly 33.00-35.00

**Weekly Wrap Up:**
Ethanol truck and rail values traded mostly .20 to .30 higher, instances of .40 
higher depending on the trade day.  Values showing a rollercoaster effect much 
of the week.  Ethanol manufacturing declined again last week throughout the 
United States.  885,000 barrels of ethanol was manufactured each day last week, 
that is a 6,000 barrel decline from previous week.  Ethanol stocks however 
increased by 400,000 barrels.  Ethanol trading overall for the week continues to 
show issues with transportation with wide price ranges proving volatility 
throughout the marketplace.  

Bio-Energy Report Notes:
Protein content 28-30% for most distiller grains on a dry matter basis.
Modified Wet Distillers Grain is a partially dried product. Wet Distillers
Grain is a non-dried product.  Distillers corn oil is intended for animal feed
or biofuel and is not Generally Regarded As Safe (GRAS) for human consumption.
It may also be referred to as inedible crude corn oil or crude corn oil.

Yellow Corn = US #2

E is east of Interstate 35. W is west of Interstate 35.

Chicago Board of Trade month symbols: F January, G February, H March, J April,
K May, M June, N July, Q August, U September, V October, X November, Z December