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 – September 12, 2026
Market situation for the week.
· US corn prices --- down by about USD 2 m/t
· US new crop soybean prices down by about USD 5 m/t
· US soymeal prices --- down by USD 2 or 3 m/t
· US winter wheat – down by about USD 3 m/t
· US spring wheat – no change in prices for the week
This week was WASDE week in the USA which made Friday quite an exciting day.
USA corn yields were seen as lower by the USDA dropping from 180.7 bushels per acre to 178.5. Corn prices had moved a little higher in advance of the WASDE so changes after the WASDE were minimal. Trade reports say that the WASDE was quite neutral for US corn.
Soybean prices slipped a little on Friday after the WASDE which some say was slightly bearish. The report showed an expected increase in US soybean exports. Prices were said to be lower due to an “overbought” situation with soybean futures --- long futures liquidation helped move prices lower.
There was very little exciting for US wheat in the WASDE report although on the international side, exports by both Ukraine and Russia were reduced by a total of 4.0 mm/t but this was offset by increased wheat exports for Argentina, Australia and Canada.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$27.00
|
Up $1.00
|
$27.00
|
Up $1.00
|
|
US Gulf Israel: Panamax
|
$45.00
|
Up $2.00
|
US Gulf to Egypt: Panamax
|
$45.00
|
Up $2.00
|
US Gulf Turkey: Panamax
|
$46.00
|
Up $2.00
|
US Gulf Morocco: Handi
|
$46.00
|
Up $2.00
|
US Gulf Algeria/Tunisia: Handi
|
$47.00
|
Up $2.00
|
$52.00
|
Up $1.00
|
|
US Gulf other Med: Handi
|
$48.00
|
Up $2.00
|
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
|
$77.00
|
Up $1.00
|
US Gulf China: Panamax
|
$76.00
|
Up $1.00
|
US PNW Egypt: Panamax via Panama
|
$52.00
|
Up $1.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$38.00
|
Steady
|
US PNW China: Panamax
|
$36.00
|
Steady
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes, Duluth – Europe – 30,000 MT
|
$58.00
|
Steady
|
US Lakes, Duluth – Morocco – 30,000 MT
|
$64.00
|
Steady
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$58.00
|
Steady
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$35.00
|
Steady
|
France/Germany to India: Panamax
|
$61.00
|
Up $1.00
|
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
|
$59.00
|
Up $2.00
|
Argentina to Japan: Panamax – no top off
|
$60.00
|
Up $2.00
|
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
|
$45.00
|
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
|
$56.00
|
Up $1.00
|
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
|
$58.00
|
Up $3.00
|
Brazil to Japan: Panamax
|
$59.00
|
Up $3.00
|
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
|
$46.00
|
Up $1.00
|
Australia to Europe: Panamax
|
$59.00
|
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
Accurate freight prices for Black Sea shipments are very difficult to obtain.
|
|
|
Black Sea to China: Panamax
|
$95 Russia
|
Ukraine $56
|
Black Sea to Indonesia: Panamax
|
$95 Russia
|
Ukraine $63
|
Black Sea to Bangladesh: Panamax
|
$95 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$90 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$90 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
N/A
|
N/A
|
Black Sea to Europe: Panamax
|
$46 Russia
|
Ukraine $28
|
Black Sea to East Spain – Panamax
|
$44 Russia
|
Ukraine $23
|
Black Sea to Morocco – Handi
|
$105 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$105 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$82 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$105 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$82 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$85 Russia
|
Ukraine $30
|
Black Sea to South Africa – Handi
|
$95 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
No info
|
|
Russia to Egypt – coaster 5,000 MT
|
No info
|
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
3507
|
Down 121
|
Baltic Capesize Index
|
6080
|
Down 347
|
Baltic Panamax Index
|
2407
|
Down 41
|
Baltic Supramax Index
|
1719
|
Up 44
|
Baltic Handisize Index
|
940
|
Up 40
|
|
|
|
Freightos/Baltic Container Index
|
3478
|
Down 6
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2026<<December 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 305<<315
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 349<<352
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 220<<225
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 210<<215
|
Wheat, Romania 12.5 pro
|
USD 280<<285
|
Wheat, Superior, France
|
USD 285/288 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 255<<260
|
Wheat, feed, Black Sea
|
USD 215<<220
|
|
|
Barley, France, Rouen port
|
USD 266/269 spot
|
Barley, feed, Argentina, upriver
|
USD 240/245
|
Barley, feed, Black Sea, 30,000+
|
USD 195/205
|
Barley, feed, Australia
|
USD 275/280
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 246<<252
|
Corn, 3YC FOB USA Pacific northwest
|
USD 262<<268
|
Corn, FOB Argentina port, upriver
|
USD 225<<235
|
Corn, FOB Brazil port
|
USD 240<<245
|
Corn, FOB France
|
No prices
|
Corn, FOB Romania
|
USD 240>>245
|
Corn, FOB Russia
|
USD 220<<225
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<235
|
Sorghum, FOB Argentina port
|
USD 210<<225
|
Sorghum, FOB Texas
|
USD 265<<270
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 415<<420
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 445<<450
|
Soymeal, 47% pro, FOB Argentina
|
USD 405<<410
|
Soymeal, 48% protein, FOB Brazil
|
USD 415>>395
|
|
|
Soybeans, FOB NOLA
|
USD 520<<530
|
Soybeans, Argentina, FOB
|
USD 505<<515
|
Soybeans, Brazil, FOB
|
USD 535>>500
|
Soybeans, Black Sea
|
No prices
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 705<<715
|
Corn Gluten Feed, USA FOB NOLA
|
USD 240<<245
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 280<<285
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Central/North Peru details: The 2026 fishing period is officially closed as of August 21 2026.
South Peru details: No change this week ---- New quota 251,000 m/t, landed 4,524 m/t, fishmeal produced 1,131 – balance on quota 246,476 m/t to December 31, 2026.
(fishmeal and fishoil production are estimated)
The latest information on the El Nino event is that it will be active until summer 2027 with severe/very strong effect between September 2026 and January 2027.
According to trade reports buyers/sellers have agreed to roll unshipped orders to the next fishing season in 2026.
Fishmeal prices in China are reported to be steady. Most port stock is said to be sold.
Trade reports vary on the price for Super Prime for the next season with a range from USD 3200 up to USD 3400 m/t--- spreads between grades are reported at USD 100 to 150 m/t.
According to the MSI Ceres report, India is becoming a significant shipper of fishmeal to China with export of fishmeal up by 64% to a total of 209,000 m/t. Indian fishmeal is going to China, Vietnam, Japan and Turkey. India’s total fishmeal production is said to be an estimated 550,000 m/t per year.
Peru’s fishmeal exports to the end of August 2026 are at 500,000 m/t with 341,000 m/t to China, 74,000 m/t to Europe, 37,000 m/t to Asia.
According to trade reports the Peru Minister of Production has presented a detailed plan for government measures that will be needed to overcome the effect of the upcoming El Nino event.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2920
|
Danish standard fishmeal
|
71% protein
|
$3850
|
Peru fishmeal
|
65% protein
|
$3300
|
Chile fishmeal
|
67% protein
|
$3340
|
Iceland fishmeal
|
71% protein
|
$4020
|
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 MT for fishmeal
Specification
|
Price per MT FOB Vessel Peru port
|
Price per MT
Chile port
|
|
|
|
65% protein standard steam
|
2950/3000
|
|
66% protein 120 TVN
|
3000/3050
|
|
67% protein 150 TVN
|
3050/3100
|
|
67% protein 120 TVN
|
3200/3250
|
3300/3350
|
67% protein 1000 hist, 120 TVN
|
3300/3350
|
3300/3350
|
68% protein 500 hist, 100 TVN
|
3400/3450
|
3350/3400
|
|
|
|
Fish oil, crude bulk – feed grade
|
No prices
|
8300/8400
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
12,000+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
