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 – August 22, 2026
Market situation for the week.
· US corn prices --- up by about USD 10 m/t.
· US new crop soybean prices up by about USD 17 m/t into 2027.
· US soymeal prices --- up by USD 11 m/t
· US winter wheat – up by about USD 4 m/t into spring 2027.
· US spring wheat – no change in prices for the week.
Both corn and soybean prices continue to be quite bullish due to good export sales for both while expected crop yields look to be lower than the USDA forecasts ---- but still above the five year average yields.
The Pro Farmer Crop Tour did come up with some slightly higher estimates for corn yields but overall, the yields are not as good as had been expected earlier in the season. Corn export demand is still very good, helped by the drought situation in Europe and the reduced shipments from the Black Sea. The longer the Black Sea situation continues the more corn importers are going to have to look at alternate sources --- USA, Canada, Brazil and Argentina.
China booked a chunk of new crop soybeans which pushed prices higher once again. China doesn’t seem to be too bothered by the high prices but trade reports do mention that some soybean importing countries are looking at less expensive alternatives to soybeans. Soymeal is said to be higher due to the export sales of soybeans and the concern that local USA soybean crush level could drop which would reduce soymeal supply.
Wheat prices didn’t do too much this week as the international situation for seems to be priced into the market. The only continuing problem in the USA is the drought effect on spring wheat and the lower ground water levels for fall winter wheat planting.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$26.00
|
Steady
|
$26.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$42.00
|
Down $2.00
|
US Gulf to Egypt: Panamax
|
$42.00
|
Down $2.00
|
US Gulf Turkey: Panamax
|
$43.00
|
Down $2.00
|
US Gulf Morocco: Handi
|
$43.00
|
Down $1.00
|
US Gulf Algeria/Tunisia: Handi
|
$44.00
|
Down $1.00
|
$51.00
|
Down 1.00
|
|
US Gulf other Med: Handi
|
$45.00
|
Down $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
|
$73.00
|
Steady
|
US Gulf China: Panamax
|
$72.00
|
Up $1.00
|
US PNW Egypt: Panamax via Panama
|
$50.00
|
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
|
$58.00
|
Down $1.00
|
US Lakes – Morocco – 30,000 MT
|
$64.00
|
Down $1.00
|
|
|
|
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
|
$58.00
|
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
|
$44.00
|
Steady
|
Argentina to China: Panamax – no top off
|
$55.00
|
Steady
|
Argentina to Japan: Panamax – no top off
|
$56.00
|
Steady
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$41.00
|
Steady
|
Argentina to Morocco: Handi
|
$43.00
|
Steady
|
Argentina to Libya: Handi
|
$44.00
|
Steady
|
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
|
$44.00
|
Steady
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$54.00
|
Steady
|
Brazil to Japan: Panamax
|
$55.00
|
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
|
Steady
|
Australia to Europe: Panamax
|
$58.00
|
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
|
$75 Russia
|
Ukraine $57
|
Black Sea to Indonesia: Panamax
|
$70 Russia
|
Ukraine $63
|
Black Sea to Bangladesh: Panamax
|
$75 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$58 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$60 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
N/A
|
N/A
|
Black Sea to Europe: Panamax
|
$37 Russia
|
Ukraine $24
|
Black Sea to East Spain – Panamax
|
$31 Russia
|
Ukraine $18
|
Black Sea to Morocco – Handi
|
$59 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$58 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$49 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$59 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$69 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$57 Russia
|
Ukraine $29
|
Black Sea to South Africa – Handi
|
$55 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
No info
|
|
Russia to Egypt – coaster 5,000 MT
|
No info
|
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
2841
|
Down 22
|
Baltic Capesize Index
|
4552
|
Up 14
|
Baltic Panamax Index
|
2103
|
Down 124
|
Baltic Supramax Index
|
1640
|
Up 18
|
Baltic Handisize Index
|
874
|
Up 8
|
|
|
|
Freightos/Baltic Container Index
|
3603
|
Down 100
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR September 2026/November 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 290<<301
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 333<<344
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 220<<225
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 215<<220
|
Wheat, Romania 12.5 pro
|
USD 270<<275
|
Wheat, Superior, France
|
USD 270/273 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 255>>245
|
Wheat, feed, Black Sea
|
USD 215<<220
|
|
|
Barley, France, Rouen port
|
USD 246/249 spot
|
Barley, feed, Argentina, upriver
|
USD 225/230
|
Barley, feed, Black Sea, 30,000+
|
USD 200/210
|
Barley, feed, Australia
|
USD 265/270
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 231<<245
|
Corn, 3YC FOB USA Pacific northwest
|
USD 245<<260
|
Corn, FOB Argentina port, upriver
|
USD 215<<235
|
Corn, FOB Brazil port
|
USD 235<<250
|
Corn, FOB France
|
USD 297/300 spot
|
Corn, FOB Romania
|
USD 255>>245
|
Corn, FOB Russia
|
USD 215<<220
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<235
|
Sorghum, FOB Argentina port
|
USD 225<<245
|
Sorghum, FOB Texas
|
USD 237<<255
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 385<<390
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 415>>420
|
Soymeal, 47% pro, FOB Argentina
|
USD 365<<375
|
Soymeal, 48% protein, FOB Brazil
|
USD 380>>375
|
|
|
Soybeans, FOB NOLA
|
USD 495<<505
|
Soybeans, Argentina, FOB
|
USD 485<<505
|
Soybeans, Brazil, FOB
|
USD 515>>495
|
Soybeans, Black Sea
|
USD 460<<470
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 685<<690
|
Corn Gluten Feed, USA FOB NOLA
|
USD 235<<240
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 248<<256
|
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 – final numbers are: 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: 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)
Ah the El Nino, it is now in the news everywhere --- for Peru the latest seems to be a strong event for August and September followed by a very strong/extraordinary event through to about February 2027. What the exact effect the El Nino will have on anchovy stock looks to be that they will move to deeper water.
There has been comment in the trade that Peru fishmeal prices for future shipments could be softer – this due to the amount of fishmeal that has appeared from alternate sources at prices lower than the “theoretical” Peru prices.
Fishmeal prices in China are reported to be US$ 50 to 75 m/t lower with at least one trade report saying China prices could be down by US$ 150 m/t due to local fishmeal production.
In Peru, the government has set up a “private command group” to deal with and control the effects of the El Nino event that is forecasted.
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
|
$3290
|
Chile fishmeal
|
67% protein
|
$3320
|
Iceland fishmeal
|
71% protein
|
$3980
|
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
|
3300/3400
|
|
66% protein 120 TVN
|
No prices
|
|
67% protein 150 TVN
|
No prices
|
|
67% protein 120 TVN
|
3500/3600
|
3400/3420
|
67% protein 1000 hist, 120 TVN
|
3550/3650
|
3450/3470
|
68% protein 500 hist, 100 TVN
|
3600/3700
|
3500/3520
|
|
|
|
Fish oil, crude bulk – feed grade
|
No prices
|
8000/8500
|
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
