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WEEKLY USA GRAIN AND PROTEIN REPORT – August 30, 2025
Monday is a holiday in the US – Labor Day -- and all markets and offices will be closed for the day.
Corn prices in the US were up by about USD 4 m/t this week with soybeans up by at most a dollar or two and soymeal down by USD 2 or so a m/t. Soft red winter wheat was up by about USD 3 m/t while hard red winter wheat was unchanged at the end of the week. US spring wheat was down by about USD 4 m/t.
Corn prices were up a little due to a lack of rainfall in some areas. While soybeans suffered from high world soybean stocks and a lack of any China business. There was no new trend seen in wheat prices this week.
Much of the market activity at the end of the week was due to the holiday on Monday with most traders covering their positions. The corn futures market saw short sellers covering shorts before the weekend and corn futures were the most traded grain/oilseed this week.
Looking at the month’s performance on futures prices, soybeans were up by 6.6% for the month with soymeal up by 4.7% and corn up by 1.6%. All USA wheat prices were down for the month.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$25.00 | Steady | |
$25.00 | Steady | |
US Gulf Israel: Panamax m/t | $40.00 | Up $2.00 |
US Gulf to Egypt: Panamax | $40.00 | Up $2.00 |
US Gulf Turkey: Panamax m/t | $41.00 | Up $2.00 |
US Gulf Morocco: Handi | $41.00 | Up $2.00 |
US Gulf Algeria/Tunisia: Handi | $42.00 | Up $2.00 |
$37.00 | Steady | |
US Gulf other Med: Handi | $43.00 | Up $2.00 |
US Gulf South Africa: Handi | $41.00 | Steady |
US Gulf India : Panamax | $52.00 | Steady |
US Gulf Bangladesh: Panamax | $62.00 | New |
US Gulf to Philippines: Panamax | $52.00 | Steady |
US Gulf to Vietnam: Panamax | $53.00 | New |
US Gulf Japan: Panamax | $56.00 | Up $3.00 |
US Gulf China: Panamax | $55.00 | Up $3.00 |
US PNW Egypt: Panamax via Panama | $41.00 | Up $1.00 |
US PNW South Africa – 40,000 m/t | $65.00 | Steady |
US PNW Bangladesh: Panamax | $50.00 | New |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Vietnam: Panamax | $28.00 | New |
US PNW Japan: Panamax | $30.00 | Up $1.00 |
US PNW China: Panamax | $29.00 | Up $1.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $53.00 | Steady |
US Lakes – Morocco – 30,000 m/t | $59.00 | Steady |
France/Germany to Algeria: Handi | $33.00 | Steady |
France/Germany to Bangladesh 40,000 m/t | $54.00 | Steady |
France/Germany to China: Panamax | $70.00 | Steady |
France/Germany to Egypt: Panamax | $46.00 | Steady |
France/Germany to India: Panamax | $37.00 | New |
France/Germany to Iran: Panamax | $35.00 | Down $1.00 |
France/Germany to Jordan: Panamax | $42.00 | Steady |
France/Germany to Morocco: Handi | $32.00 | Steady |
France/Germany to Saudi Arabia: Panamax | $65.00 | Steady |
France/Germany to Turkey: Handi | $37.00 | Steady |
France/Germany to Yemen: Handi | $66.00 | Steady |
Argentina to Algeria: Handi | $46.00 | Steady |
Argentina to China: Panamax | $43.00 | Up $1.00 |
Argentina to Japan: Panamax | $44.00 | Up $1.00 |
Argentina to Egypt: Panamax | $53.00 | Steady |
Argentina to Europe: Panamax | $37.00 | Steady |
Argentina to Morocco: Handi | $45.00 | Steady |
Argentina to Libya: Handi | $46.00 | Steady |
Argentina to Jordan: Panamax | $55.00 | Steady |
Argentina to Saudi Arabia: Panamax | $62.00 | Steady |
Argentina to Iran: Panamax | $61.00 | Steady |
Argentina to Indonesia: Panamax | $58.00 | Steady |
Argentina to South Africa: Panamax | $35.00 | Steady |
Argentina to Kenya: Handi | $53.00 | Steady |
Argentina to Spain: Panamax | $37.00 | Steady |
Argentina to Tunisia: Handi | $46.00 | Steady |
Brazil to Algeria/Tunisia: Handi | $42.00 | Steady |
Brazil to China: Panamax | $39.00 | Up $1.00 |
Brazil to Japan: Panamax | $40.00 | Up $1.00 |
Brazil to South Korea: Panamax | $48.00 | Steady |
Brazil to Europe: Panamax | $37.00 | Steady |
Brazil to Morocco: Handi | $41.00 | Steady |
Brazil to Iran: Panamax | $61.00 | Steady |
Brazil to Saudi Arabia 30/40,000 m/t | $64.00 | Steady |
Brazil to Spain: Panamax | $37.00 | Steady |
Brazil to Turkey/Egypt: Panamax | $59.00 | Steady |
Australia to Saudi: Panamax | $43.00 | Steady |
Australia to Europe: Panamax | $56.00 | Up $3.00 |
South Africa to Italy -- Handisize | $46.00 | Steady |
South Africa to Turkey – Handisize | $47.00 | Steady |
South Africa to Japan – Handisize | $43.00 | Steady |
South Africa to China -- Handisize | $43.00 | Steady |
Black Sea freight | ||
Black Sea to China: Panamax | $42 Russia | Ukraine $57 |
Black Sea to Indonesia: Panamax | $51 Russia | Ukraine $64 |
Black Sea to Egypt: 40/50,000 | $17 Russia | Ukraine $33 |
Black Sea to Egypt: 30,000 | $16 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $43 Russia | Ukraine $61 |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $30 |
Black Sea to East Spain -- Panamax | $23 Russia | Ukraine $22 |
Black Sea to Morocco – Handi | $25 Russia | Ukraine $29 |
Black Sea to Tunisia/Algeria – Handi | $24 Russia | Ukraine $28 |
Black Sea to Jordan: Panamax | $18 Russia | Ukraine $29 |
Black Sea to Libya – Handi | $25 Russia | Ukraine $29 |
Black Sea to Saudi: Panamax | $42 Russia | Ukraine $50 |
Black Sea to Turkey – Handi | $12 Russia | Ukraine $25 |
Black Sea to South Africa – Handi | $55 Russia | |
Black Sea to Bangladesh - Panamax | $42 Russia | |
Black Sea to Nigeria – Handi | Ukraine $45 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $40.00 | Down $1.00 |
Russia to Egypt – coaster 5,000 m/t | $59.00 | Up $2.00 |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index 40% Capesize, 30% Panamax, 30% Supermax | 2025 | Up 81 |
Baltic Capesize Index | 2925 | Up 132 |
Baltic Panamax Index | 1847 | Up 77 |
Baltic Supramax Index | 1465 | Up 41 |
Baltic Handisize Index | 767 | Up 42 |
Freightos/Baltic Container Index | 1897 | Down 35 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR September 2025/November 2025
Wheat, USA Soft Red Winter, US Gulf | USD 223<<239 Dec |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 235<<241 Dec |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 230<<235 Dec |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 230<<235 Dec |
Wheat, Romania 12.5 pro | USD 235<<240 Dec |
Wheat, Superior, France | USD 228/231 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 230>>220 Dec |
Wheat, feed, Black Sea | USD 215<<220 Dec |
Barley, France, Rouen port | USD 220/225 |
Barley, feed, Argentina, upriver | USD 220/225 |
Barley, feed, Black Sea, 30,000+ | USD 225/230 |
Barley, feed, Australia | No info |
Corn, 2YC FOB NOLA USA | USD 205<<210 Dec |
Corn, 3YC FOB USA Pacific northwest | USD 210<<215 Dec |
Corn, FOB Argentina port, upriver | USD 190<<205 Dec |
Corn, FOB Brazil port | USD 210<<215 Dec |
Corn, FOB France | USD 225/228 Spot |
Corn, FOB Romania | USD 220<<230 Dec |
Corn, FOB Russia | USD 230<<240 Dec |
Corn, FOB Ukraine, 30,000+ m/t | USD 230<<240 Dec |
Sorghum, FOB Argentina port | USD 205<<210 Dec |
Sorghum, FOB Texas | USD 195<<200 Dec |
Soymeal, 48% protein, FOB NOLA | USD 345>>335 Dec |
Soymeal, 48% protein, USA, Rotterdam | USD 375>>365 Dec |
Soymeal, 47% pro, FOB Argentina | USD 300<<310 Dec |
Soymeal, 48% protein, FOB Brazil | USD 300<<310 Dec |
Soybeans, FOB NOLA | USD 415<<420 Dec |
Soybeans, Argentina, FOB | USD 410<<425 Dec |
Soybeans, Brazil, FOB | USD 445>>450 Dec |
Soybeans, Black Sea | USD 410<<420 Dec |
Corn Gluten Meal, USA FOB NOLA | USD 560<<570 Oct |
Corn Gluten Feed, USA FOB NOLA | USD 210<<215 Oct |
DDGS corn, 35 profat, USA FOB NOLA | USD 215<<220 Oct |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
No catch reported for the South Region this week --- weather was very bad with ports closed. No catch now for about three weeks.
Estimated fishmeal sales up to 580,000 m/t with remaining supply said to be less than 10,000 m/t.
Trade reports say that there is some early business surfacing for the next fishing season. The feeling in the trade seems to be that prices will have to soften a bit as demand from China could be lower due to large stocks on hand and enroute for China.
At least one trade report is showing new season prime price indication at USD 1700 CNF China. Comments from China are that new season price indications from Peru are too high for market conditions.
MSI Ceres published corrected Peru export numbers for January to June 2025 ---- total fishmeal exports are at 764,000 m/t with China taking 629,200 m/t (82.4%)
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | $1740 |
Danish standard fishmeal | 71% protein | $2365 |
Peru fishmeal | 65% protein | $1720 |
Chile fishmeal | 67% protein | $1850 |
Iceland fishmeal | 71% protein | $2435 |
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 m/t for fishmeal
Specification | Price per m/t FOB Vessel Peru port | Price per m/t Chile port |
Next fishing season | ||
65% protein standard steam | 1520/1530 | |
67% protein 150 TVN | 1570/1580 | |
67% protein 120 TVN | 1610/1620 | No prices |
67% protein 1000 hist, 120 TVN | 1670/1680 | 1730/1740 |
68% protein 500 hist, 100 TVN | 1760/1770 | 1760/1770 |
Fish oil, crude bulk – feed grade | 2500/2600 | 2200/2300 |
Fish oil, crude in drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | 2900/3400 | 3400/3500 |
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2025 Wayne S. Bacon
