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 – June 13, 2026
Market situation for the week.
· US corn prices down by about USD 2 m/t
· US soybean prices down by about USD 3 m/t
· US soymeal prices drop by about USD 6 m/t
· US winter wheat up by as much as USD 3 m/t
· US spring wheat – no change in prices.
This week was USDA WASDE week but there didn’t seem to be much of a reaction to the new numbers.
Trade reports are saying that lower plantings for US corn as forecasted could lead to a good rally in corn prices if the weather situation turns negative. Corn balances are such that it is expected that it won’t take much to push corn prices higher quickly. No one seems to be looking for corn prices to slide lower.
With soybeans, the planting area has increased which could make soybean prices weaker in days to come. Demand for soymeal and soyoil is keeping crush numbers up but demand may not be able to keep prices from falling especially as export demand for soybeans is not as great as had been expected.
The US winter wheat crop is expected to be the smallest since 1965 and down 27% from last year. However, record world wheat production means that US wheat must fight for every ton of export business and with Polish wheat being shipped to the US it would seem that US wheat prices are too high for world market conditions. It doesn’t look like wheat prices will be moving higher in the near term.
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 $2.00
|
US Gulf Algeria/Tunisia: Handi
|
$45.00
|
Up $2.00
|
$51.00
|
Up $1.00
|
|
US Gulf other Med: Handi
|
$46.00
|
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
|
$72.00
|
Steady
|
US Gulf China: Panamax
|
$71.00
|
Up $1.00
|
US PNW Egypt: Panamax via Panama
|
$52.00
|
Steady
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$37.00
|
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 $2.00
|
US Lakes – Morocco – 30,000 MT
|
$66.00
|
Up $2.00
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$56.00
|
Steady
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$32.00
|
Down $2.00
|
France/Germany to India: Panamax
|
$59.00
|
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
|
$44.00
|
Up $1.00
|
Argentina to China: Panamax
|
$56.00
|
Steady
|
Argentina to Japan: Panamax
|
$57.00
|
Steady
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$43.00
|
Steady
|
Argentina to Morocco: Handi
|
$43.00
|
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
|
$57.00
|
Steady
|
Argentina to Spain: Panamax
|
$43.00
|
Steady
|
Argentina to Tunisia: Handi
|
$44.00
|
Up $1.00
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$55.00
|
Steady
|
Brazil to Japan: Panamax
|
$56.00
|
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
|
$43.00
|
Steady
|
Australia to Europe: Panamax
|
$55.00
|
Steady
|
|
|
|
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
|
$47 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
|
$59 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$22 Russia
|
Ukraine $27
|
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
|
$46.00
|
Steady
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
2729
|
Down 252
|
Baltic Capesize Index
|
4107
|
Down 786
|
Baltic Panamax Index
|
2283
|
Up 47
|
Baltic Supramax Index
|
1642
|
Up 54
|
Baltic Handisize Index
|
900
|
Up 36
|
|
|
|
Freightos/Baltic Container Index
|
2897
|
Up 52
|
|
|
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2026/September 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 242<<258
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 286<<295
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 235<<240
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 240<<245
|
Wheat, Romania 12.5 pro
|
USD 235<<240
|
Wheat, Superior, France
|
USD 231/234 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 235<<240
|
Wheat, feed, Black Sea
|
USD 230<<235
|
|
|
Barley, France, Rouen port
|
USD 223/226 spot
|
Barley, feed, Argentina, upriver
|
USD 235/240
|
Barley, feed, Black Sea, 30,000+
|
USD 230/235
|
Barley, feed, Australia
|
USD 285/290
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 200<<215
|
Corn, 3YC FOB USA Pacific northwest
|
USD 220<<230
|
Corn, FOB Argentina port, upriver
|
USD 195<<200
|
Corn, FOB Brazil port
|
USD 205>>215
|
Corn, FOB France
|
USD 254/257 Spot
|
Corn, FOB Romania
|
USD 235<<240
|
Corn, FOB Russia
|
USD 230>>235
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 230<<235
|
Sorghum, FOB Argentina port
|
USD 235<<240
|
Sorghum, FOB Texas
|
USD 210<<215
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 370<<375
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 400<<405
|
Soymeal, 47% pro, FOB Argentina
|
USD 330<<335
|
Soymeal, 48% protein, FOB Brazil
|
USD 330<<335
|
|
|
Soybeans, FOB NOLA
|
USD 445<<450
|
Soybeans, Argentina, FOB
|
USD 410<<455
|
Soybeans, Brazil, FOB
|
USD 440<<465
|
Soybeans, Black Sea
|
USD 435<<445
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 670<<675
|
Corn Gluten Feed, USA FOB NOLA
|
USD 190>>185
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 255>>250
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The latest announcement from Peru is that the fishing ban will continue with no end date specified. The new extension also extends the area covered. The extension should certainly mean that for now we will continue to see record high fishmeal prices.
With nothing (or almost nothing) left to sell in Peru, prices mean nothing for the moment. At least one trade report says that buyers are bidding as high as USD 4,000 m/t for Super Prime but even at that level there is almost nothing to buy except perhaps the odd lot of lower grade fishmeal.
Trade reports show that Super Prime prices in China are up at about USD 3,200 m/t which is about a USD 220 m/t premium to standard grade fishmeal.
Peru’s fishmeal exports to the end of April are down by 27% from April 2025 this due mainly to a shortage of supply of fishmeal in Peru. The buyers are there but the supply is not.
There has been a lot more talk this week about an El Nino event with many opinions on how mild, medium or strong the event may be and what parts of the world will be affected the worst. The El Nino situation seems to change daily – at least the opinions do much with no facts in support.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2015
|
Danish standard fishmeal
|
71% protein
|
$3015
|
Peru fishmeal
|
65% protein
|
$2700
|
Chile fishmeal
|
67% protein
|
$2670
|
Iceland fishmeal
|
71% protein
|
$3160
|
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
|
|
Next fishing season
|
|
65% protein standard steam
|
2650/2670
|
|
66% protein 120 TVN
|
2700/2720
|
|
67% protein 150 TVN
|
2800/2820
|
|
67% protein 120 TVN
|
2880/2900
|
2880/2900
|
67% protein 1000 hist, 120 TVN
|
2920/2940
|
2910/2930
|
68% protein 500 hist, 100 TVN
|
2970/2300
|
2950/2970
|
|
|
|
Fish oil, crude bulk – feed grade
|
7500/7700
|
6400/6500
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
10,000+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
