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 – October 03, 2026
Market situation for the week.
· US corn prices --- down by about USD 12 m/t
· US soybean prices – down by USD 12 to 15 m/t
· US soymeal prices --- down by USD 24 to 30 m/t
· US winter wheat – down by USD 8 to 10 m/t
· US spring wheat – no change for the week
US corn prices took a strong hit this week as ending stocks numbers reported by USDA were up by 35%. Harvest pressure is also helping to weaken corn prices as storage fills up and farmers have to sell off stocks. Trade exports feel that corn prices will remain weak until the harvest is about completed --- much the same as most every year at harvest time. US ethanol production is at about USDA expected levels ---- about 34% of USA corn is used for ethanol production making ethanol an important factor in US corn prices.
US soybean prices were lower this week as the biggest part of the harvest gets closer but is delayed slightly by very wet weather in some areas. There was no change in the situation with China and new large soybean orders have not been seen, which adds to the market price weakness. Soymeal prices were quite weak as supply now seems to have caught up with demand, letting prices slip lower.
US winter wheat was lower in a week with several large international wheat tenders. USA wheat has just not been competitive in these tenders with Romanian and Bulgarian wheat taking much of the tender business. While the wheat export situation in the Black Sea remains bad for Russia and Ukraine, there is still a good quantity of Black Sea wheat being exported, which is keeping pressure on world prices.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$28.00
|
Up $1.00
|
$28.00
|
Up $1.00
|
|
US Gulf Israel: Panamax
|
$45.00
|
Steady
|
US Gulf to Egypt: Panamax
|
$45.00
|
Steady
|
US Gulf Turkey: Panamax
|
$46.00
|
Steady
|
US Gulf Morocco: Handi
|
$46.00
|
Steady
|
US Gulf Algeria/Tunisia: Handi
|
$47.00
|
Steady
|
$51.00
|
Down $1.00
|
|
US Gulf other Med: Handi
|
$48.00
|
Steady
|
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
|
$76.00
|
Steady
|
US Gulf China: Panamax
|
$75.00
|
Steady
|
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
|
Down $1.00
|
US PNW China: Panamax
|
$35.00
|
Down $1.00
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes, Duluth – Europe – 30,000 MT
|
$62.00
|
Down $1.00
|
US Lakes, Duluth – Morocco – 30,000 MT
|
$68.00
|
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
|
$61.00
|
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
|
$46.00
|
Steady
|
Argentina to China: Panamax – no top off
|
$59.00
|
Steady
|
Argentina to Japan: Panamax – no top off
|
$60.00
|
Steady
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$41.00
|
Steady
|
Argentina to Morocco: Handi
|
$45.00
|
Steady
|
Argentina to Libya: Handi
|
$46.00
|
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
|
$56.00
|
Stady
|
Argentina to Spain: Panamax
|
$41.00
|
Steady
|
Argentina to Tunisia: Handi
|
$46.00
|
Steady
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$56.00
|
Down $2.00
|
Brazil to Japan: Panamax
|
$59.00
|
Down $2.00
|
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
|
Steady
|
Australia to Europe: Panamax
|
$59.00
|
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
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 $29
|
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
|
|
Romania $48
|
Black Sea to Kenya –- Handi
|
|
Romania $55
|
Black Sea to Vietnam --- Handi
|
|
Romania $70
|
Black Sea to Bangladesh --- Handi
|
|
Romania $64
|
Black Sea to Egypt --- Handi
|
|
Romania $23
|
Black Sea to Europe --- Handi
|
|
Romania $30
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
No info
|
|
Russia to Egypt – coaster 5,000 MT
|
$120
|
|
Ukraine to Turkey – coaster 5,000 MT
|
$90
|
|
Ukraine to Egypt – coaster 5,000 MT
|
$105
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
3148
|
Down 278
|
Baltic Capesize Index
|
5042
|
Down 742
|
Baltic Panamax Index
|
2372
|
Down 35
|
Baltic Supramax Index
|
1789
|
Up 3
|
Baltic Handisize Index
|
1007
|
Down 4
|
|
|
|
Freightos/Baltic Container Index
|
3352
|
Down 15
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2026<<December 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 286<<296
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 329<<332
|
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 285<<290
|
Wheat, Superior, France
|
USD 278/281 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 250>>245
|
Wheat, feed, Black Sea
|
USD 215<<220
|
|
|
Barley, France, Rouen port
|
USD 258/261 spot
|
Barley, feed, Argentina, upriver
|
USD 240/245
|
Barley, feed, Black Sea, 30,000+
|
USD 200/205
|
Barley, feed, Australia
|
USD 260/265
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 235<<240
|
Corn, 3YC FOB USA Pacific northwest
|
USD 250<<255
|
Corn, FOB Argentina port, upriver
|
USD 215<<235
|
Corn, FOB Brazil port
|
USD 230<<235
|
Corn, FOB France
|
USD 305/308 spot
|
Corn, FOB Romania
|
USD no prices
|
Corn, FOB Russia
|
USD 215<<220
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<235
|
Sorghum, FOB Argentina port
|
USD 215<<225
|
Sorghum, FOB Texas
|
USD 255<<260
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 420>>410
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 450>>440
|
Soymeal, 47% pro, FOB Argentina
|
USD 410>>390
|
Soymeal, 48% protein, FOB Brazil
|
USD 410>>390
|
|
|
Soybeans, FOB NOLA
|
USD 515<<520
|
Soybeans, Argentina, FOB
|
USD 500<<515
|
Soybeans, Brazil, FOB
|
USD 525>>490
|
Soybeans, Black Sea
|
No prices
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 700<<710
|
Corn Gluten Feed, USA FOB NOLA
|
USD 270<<280
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 290<<300
|
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)
Reports from the current research cruise are that very few anchovies have been found except near the coast of Peru. Results are expected to improve as the research vessel moves into the Central region
The El Nino event is forecasted to bring increased rainfall in north and central parts of Peru while the south has lower rainfall. Temperatures are expected to be above average and perhaps at record high levels. Some regions of Peru are seen having a “very strong to extraordinary” El Nino event in October through December then milder through to April 2027.
Traders are still hoping that fishing will be able to start again for the North/Central region before the end of October ---- at least in selected areas.
Estimated fishmeal prices for Peru are unchanged this week.
China is on holiday the week up until October 08 for Golden Week, making everything even more quiet.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2900
|
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
|
2600/2650
|
|
66% protein 120 TVN
|
2650/2700
|
|
67% protein 150 TVN
|
2700/2750
|
|
67% protein 120 TVN
|
2800/2850
|
3300/3350
|
67% protein 1000 hist, 120 TVN
|
3000/3050
|
3300/3350
|
68% protein 500 hist, 100 TVN
|
3100/3150
|
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
