Tuesday Morning Iowa Ethanol Plant Report

Ethanol
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 4.7575-5.0775  UP 1.75            -26K to 6K    UNCH
            W 4.6475-4.8975  UP 1.75            -37K to -12K  UNCH

              Offers         Change ($/ton)
Dried Distillers Grain  (10% Moisture)
            E 235.00-240.00  UNCH
            W 225.00-255.00  UNCH
       Mostly 225.00-240.00

Modified Wet Distillers Grain (50-55% Moisture)
            E 90.00-105.00   UNCH
            W 88.00-120.00   UNCH
       Mostly 90.00-100.00

Wet Distillers Grain (65-70% Moisture)
        E & W 58.00-65.00    UNCH

Ethanol       W/E Apr 04     Change ($/gal)
        E & W 2.80-3.30      DN 0.20-UNCH

Distillers Corn Oil
(DCO)         W/E Apr 04     Change (¢/lb)
        E & W 32.00-35.50    UNCH-DN 0.50

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
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