Hammersmith Reports
St Remy De Provence, 13210 France
Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
WEEKLY USA GRAIN AND PROTEIN REPORT – July 18, 2026
Market situation for the week.
· US corn prices --- up by about USD 3 m/t, September to December.
· US new crop soybean prices up by about USD 5 m/t September to December.
· US soymeal prices --- no change on the week.
· US winter wheat – up by about USD 17 to 20 m/t.
· US spring wheat – up by about USD 2 m/t.
US corn prices are said to be trending higher both on higher demand for ethanol production and the France corn situation. The expected lower France corn crop could increase EU corn exports for 2026/27 by as much as 5.0 mm/t --- the USA could supply a good chunk of that corn. Ethanol demand is expected to increase due to the continued USA/Iran situation and the move higher for oil prices.
US soybean sales are looking quite good, and the market seems to feel that the China business for USA soybean will continue. Demand for more soybean exports should keep domestic soybean prices steady to higher.
US wheat prices are being pushed higher by several factors: drought conditions in parts of the US wheat belt, drought conditions in some wheat regions in the EU and, of course, the Black Sea situation with attacks by both Russia and Ukraine on grain facilities. Other factors, like an expected drop in production of 29% in some areas of Australia, which could cost close to 4.0 mm/t of wheat certainly are keeping the wheat market bullish.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$27.00
|
Steady
|
$27.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$44.00
|
Up $2.00
|
US Gulf to Egypt: Panamax
|
$44.00
|
Up $2.00
|
US Gulf Turkey: Panamax
|
$45.00
|
Up $2.00
|
US Gulf Morocco: Handi
|
$44.00
|
Up $1.00
|
US Gulf Algeria/Tunisia: Handi
|
$45.00
|
Up $1.00
|
$52.00
|
Up $1.00
|
|
US Gulf other Med: Handi
|
$46.00
|
Up $1.00
|
US Gulf South Africa: Handi
|
$52.00
|
Steady
|
US Gulf India: Panamax
|
$52.00
|
Steady
|
US Gulf to Philippines: Panamax
|
$52.00
|
Steady
|
US Gulf Japan: Panamax
|
$70.00
|
Up $1.00
|
US Gulf China: Panamax
|
$68.00
|
Steady
|
US PNW Egypt: Panamax via Panama
|
$49.00
|
Up $2.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$36.00
|
Steady
|
US PNW China: Panamax
|
$35.00
|
Steady
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes – Europe – 30,000 MT
|
$60.00
|
Up $1.00
|
US Lakes – Morocco – 30,000 MT
|
$66.00
|
Up $1.00
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$58.00
|
Up $1.00
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$33.00
|
Steady
|
France/Germany to India: Panamax
|
$56.00
|
Steady
|
France/Germany to Iran: Panamax
|
N/A
|
|
France/Germany to Jordan: Panamax
|
$41.00
|
Steady
|
France/Germany to Morocco: Handi
|
$32.00
|
Steady
|
France/Germany to Saudi Arabia: Panamax
|
$65.00
|
Steady
|
France/Germany to Turkey: Handi
|
$35.00
|
Steady
|
France/Germany to Yemen: Handi
|
$66.00
|
Steady
|
|
|
|
Argentina to Algeria: Handi
|
$45.00
|
Up $1.00
|
Argentina to China: Panamax – no top off
|
$54.00
|
Up $1.00
|
Argentina to Japan: Panamax – no top off
|
$55.00
|
Up $1.00
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$41.00
|
Steady
|
Argentina to Morocco: Handi
|
$44.00
|
Up $1.00
|
Argentina to Libya: Handi
|
$46.00
|
Up $1.00
|
Argentina to Jordan: Panamax
|
$58.00
|
Steady
|
Argentina to Saudi Arabia: Panamax
|
$65.00
|
Steady
|
Argentina to Iran: Panamax
|
N/A
|
|
Argentina to Indonesia: Panamax
|
$60.00
|
Steady
|
Argentina to South Africa: Panamax
|
$38.00
|
Steady
|
Argentina to Kenya: Handi
|
$55.00
|
Steady
|
Argentina to Spain: Panamax
|
$41.00
|
Steady
|
Argentina to Tunisia: Handi
|
$45.00
|
Up $1.00
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$53.00
|
Steady
|
Brazil to Japan: Panamax
|
$54.00
|
Steady
|
Brazil to South Korea: Panamax
|
$58.00
|
Steady
|
Brazil to Europe: Panamax
|
$37.00
|
Steady
|
Brazil to Morocco: Handi
|
$36.00
|
Steady
|
Brazil to Iran: Panamax
|
N/A
|
|
Brazil to Saudi Arabia 30/40,000 MT
|
$64.00
|
Steady
|
Brazil to Spain: Panamax
|
$37.00
|
Steady
|
Brazil to Turkey/Egypt: Panamax
|
$59.00
|
Steady
|
|
|
|
Australia to Saudi: Panamax
|
$45.00
|
Up $1.00
|
Australia to Europe: Panamax
|
$58.00
|
Up $1.00
|
|
|
|
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
|
$53 Russia
|
Ukraine $57
|
Black Sea to Indonesia: Panamax
|
$60 Russia
|
Ukraine $65
|
Black Sea to Bangladesh: Panamax
|
$47 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$18 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$18 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
$64 Russia
|
Ukraine $72
|
Black Sea to Europe: Panamax
|
$28 Russia
|
Ukraine $24
|
Black Sea to East Spain – Panamax
|
$24 Russia
|
Ukraine $18
|
Black Sea to Morocco – Handi
|
$29 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$28 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$29 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$29 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$64 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$22 Russia
|
Ukraine $26
|
Black Sea to South Africa – Handi
|
$55 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
$26.00
|
Steady
|
Russia to Egypt – coaster 5,000 MT
|
$45.00
|
Steady
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
2752
|
Down 192
|
Baltic Capesize Index
|
4097
|
Down 558
|
Baltic Panamax Index
|
2248
|
Down 5
|
Baltic Supramax Index
|
1737
|
Up 31
|
Baltic Handisize Index
|
903
|
Down 62
|
|
|
|
Freightos/Baltic Container Index
|
3815
|
Down 169
|
|
|
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR August 2026/October 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 278<<303 Oct
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 319<<333 Oct
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 225<<230
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 235<<240
|
Wheat, Romania 12.5 pro
|
USD 260<<265
|
Wheat, Superior, France
|
USD 271/274 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 230<<235
|
Wheat, feed, Black Sea
|
USD 220<<225
|
|
|
Barley, France, Rouen port
|
USD 247/250 spot
|
Barley, feed, Argentina, upriver
|
USD 220/225
|
Barley, feed, Black Sea, 30,000+
|
USD 210/215
|
Barley, feed, Australia
|
USD 260/265
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 222<<235
|
Corn, 3YC FOB USA Pacific northwest
|
USD 232<<245
|
Corn, FOB Argentina port, upriver
|
USD 210<<220
|
Corn, FOB Brazil port
|
USD 220<<230
|
Corn, FOB France
|
USD 277/280 spot
|
Corn, FOB Romania
|
USD 235<<240
|
Corn, FOB Russia
|
USD 225<<230
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 230<<235
|
Sorghum, FOB Argentina port
|
USD 230<<240
|
Sorghum, FOB Texas
|
USD 225<<235
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 390>>375
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 420>>405
|
Soymeal, 47% pro, FOB Argentina
|
USD 350<<355
|
Soymeal, 48% protein, FOB Brazil
|
USD 355<<360
|
|
|
Soybeans, FOB NOLA
|
USD 485<<490
|
Soybeans, Argentina, FOB
|
USD 455<<490
|
Soybeans, Brazil, FOB
|
USD 480<<490
|
Soybeans, Black Sea
|
USD 440<<455
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 690<<700
|
Corn Gluten Feed, USA FOB NOLA
|
USD 185<<190
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 240<<245
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Central/North Peru details: Quota 1,914,000 m/t, landed 471,100 m/t, fishmeal produced 116,900 m/t, fishoil produced 7,550 m/t --- balance on quota 1,442,900 m/t.
South Peru details: New quota 251,000 m/t, landed 00 m/t, fishmeal produced 000 – balance on quota 251,000 m/t to December 31, 2026.
(fishmeal and fishoil production are estimated)
No decision has been announced on the possibility of fishing in the Central/North region of Peru. Some trade reports do feel that there is a chance for some fishing in August but don’t expect any news until after the new President takes office on July 28.
Lima and Callao have just had the highest winter temperature seen in 28 years at an official 27.3C which is at 7.0C higher than the seasonal average ---- that is almost 26% higher than average.
Recent reports on the Costal El Nino event keep showing a stronger and stronger event. The fishing industry doesn’t need any more bad news in 2026.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2095
|
Danish standard fishmeal
|
71% protein
|
$3290
|
Peru fishmeal
|
65% protein
|
$2950
|
Chile fishmeal
|
67% protein
|
$2850
|
Iceland fishmeal
|
71% protein
|
$3405
|
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 MT for fishmeal
It is probably of little value listing “prices” these days. Prices shown below are from trade sources but are only “referential prices.”
Specification
|
Price per MT FOB Vessel Peru port
|
Price per MT
Chile port
|
|
|
|
65% protein standard steam
|
No prices
|
|
66% protein 120 TVN
|
No prices
|
|
67% protein 150 TVN
|
No prices
|
|
67% protein 120 TVN
|
3500/3600
|
3450/3470
|
67% protein 1000 hist, 120 TVN
|
3550/3650
|
3500/3520
|
68% protein 500 hist, 100 TVN
|
3600/3700
|
3550/3570
|
|
|
|
Fish oil, crude bulk – feed grade
|
No prices
|
7500/7600
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
10,500+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
