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Corporate Head Office: Suite 200B, Centre of Commerce, One Bay Street,
PO Box N-3944, Nassau, Bahamas. Tel 1.242.322.6154
Email: tradegroup@hammersmith.biz WWW: hammersmithltd.blogspot.com SKYPE: bacon39a
Representative Office: +33.9.7044.4881 Mobile: +33.6.8068.4564 Fax: +33.4.5774.7575
1 Traverse Du Cheval Blanc, St Remy de Provence, 13210 France
SECTION 1: US FEED GRAINS and VEGETABLE AND ANIMAL PROTEIN
Last week's report was done on Christmas Day and this week's on New Year's Day --- it is so quiet early in the day that it is easy to get the report done – no email, no phone calls, no disturbances.
Of course, there is also not a great deal of new information as most trade reports have not been published this week, as everyone relaxes for the holidays and gears up for 2016.
Argentina is probably the big news again this week as it was announced that export quotas have been lifted on wheat and corn which most feel will put even more pressure on prices. Argentina doesn't have much corn on hand but the reports from Argentina are that plantings of both wheat and corn should jump higher so that the next crop harvest will bring larger exportable stocks.
Looking at all the production numbers and stocks numbers worldwide, it is difficult to see any [price increases in the near future for wheat and corn – except perhaps in parts of Africa where crops have been terrible and white corn is both in short supply and at record high prices.
Next week there should be lots of new info on grains but for this week there is not much.
So, enjoy your New Year weekend and all the best for a very good 2016.
Estimated Bulk Grain freight in USD per m/t, basis heavy grains
| US Gulf to Europe: 60/70,000 (10,000 disch) | $12/13.00 | Steady | X |
| US Gulf to Spain: 30,000 m/t(5,000 disch) | $20/21.00 | Steady | x |
| US Gulf Israel: 50,000 MT | $19/20.00 | Down $1.00 | X |
| US Gulf to Egypt: Panamax(6,000 disch) | $18/19.00 | Down $1.00 | X |
| US Gulf Turkey: 50,000 | $20/21.00 | Down $1.00 | X |
| US Gulf Morocco: 25,000(3,000 disch) | $27/28.00 | Steady | x |
| US Gulf Nigeria: 30,000 m/t | $45/46.00 | Steady | x |
| US Gulf other Med: 25,000 MT(3,000 disch) | $28/29.00 | Steady | X |
| US Gulf South Africa | $30/31.00 | Steady | x |
| US Gulf Japan: Panamax | $24/25.00 | Steady | X |
| US Gulf China: Panamax | $23/24.00 | Steady | x |
| US PNW Japan: Panamax | $16/17.00 | Steady | x |
| US PNW China: Panamax | $15/16.00 | Steady | x |
| US East Coast Egypt: Panamax | $41/42.00 | Steady | X |
| US East Coast Nigeria: Handisize | $47/48.00 | Steady | x |
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| France/Germany to Algeria: 30,000 m/t(3,000 disch) | $21/22.00 | Steady | x |
| France/Germany to Egypt: 50,000 m/t(10,000 disch) | $21/22.00 | Steady | x |
| France/Germany to Jordan: 35/45,000 m/t(4,000 disch) | $23/24.00 | Steady | x |
| France/Germany to Morocco: 30,000 m/t(3,000 disch) | $20/21.00 | Steady | x |
| France/Germany to Saudi Arabia: 50/60,000 | $27/28.00 | Steady | x |
| France/Germany to South Africa: 30,000 m/t | $30/31.00 | Steady | x |
| France/Germany to Yemen: 30,000 m/t | $44/45.00 | Steady | x |
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| Argentina to Algeria: 25/30,000 m/t(3,000 disch) | $19/20.00 | Steady | x |
| Argentina to China: 50,000 m/t, with top-off | $24/25.00 | Steady | X |
| Argentina to Japan: 50,000 m/t, with top-off | $26/27.00 | Steady | x |
| Argentina to Egypt | $19/20.00 | Down $1.00 | x |
| Argentina to Europe: 50/60,000 m/t | $18/19.00 | Steady | x |
| Argentina to Morocco: 25,000 m/t(3,000 disch) | $18/19.00 | Steady | x |
| Argentina to Saudi Arabia | $30/31.00 | Steady | x |
| Argentina to South Africa 30,000 m/t(3,000 disch) | $22/23.00 | Steady | x |
| Argentina to Spain: 30,000 m/t | $19/20.00 | Steady | x |
| Argentina to Tunisia: 30,000 m/t | $19/20.00 | Steady | x |
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| Brazil to Algeria: 25,000 m/t | $18/19.00 | Steady | x |
| Brazil to China: 55,000 m/t | $17/18.00 | Steady | x |
| Brazil to Japan: 55,000 m/t | $18/19.00 | Steady | x |
| Brazil to Europe | $20/21.00 | Steady | x |
| Brazil to Morocco: 30,000 m/t | $18/19.00 | Steady | x |
| Brazil to Saudi Arabia | $28/29.00 | Steady | x |
| Brazil to Turkey/Egypt: 50,000 m/t | $16/17.00 | Steady | x |
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| Australia to China: 40-55,000 m/t | $6.50/7.00 | Steady | x |
| Australia to Japan: 40-55,000 m/t | $7.00/7.50 | Steady | x |
| Australia to Saudi Arabia: 40-55,000 m/t | $9.00/9.50 | Steady | x |
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| Ukraine to China | $20/21.00 | Steady | x |
| Black Sea to East Med: 30,000 m/t(3,000 disch) | $18/20.00 | Steady | x |
| Ukraine to East Med: coaster (1,000 disch) | $35/36.00 | Steady | x |
| Black Sea to Egypt: 40/50,000 m/t – (6,000 disch) | $8/10.00 | Steady | X |
| Ukraine to Egypt: coaster 3,000 m/t (1,000 disch) | $35/36.00 | Steady | X |
| Black Sea to Iraq: 50,000 m/t (4,000 disch) | $26/28.00 | Steady | x |
| Black Sea to Morocco: 30,000 m/t(3,000 disch) | $20/21.00 | Steady | x |
| Black Sea to Spain: 40/50,000 m/t (8,000 disch) | $8/9.00 | Down $1.00 | x |
| Black Sea to Jordan: 50,000 m/t (4,000 disch) | $15/17.00 | Steady | x |
| Black Sea to Saudi Arabia – Jeddah – 50k | $20/21.00 | Steady | x |
| Black Sea to South Africa – 30,000 m//t | $21/22.00 | Steady | x |
| Black Sea to Tunisia/Algeria: 30,000(5,000 disch) | $18/20.00 | Steady | x |
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| Baltic Dry Index | 478 | Closed | X |
| Baltic Capesize Index | 470 | Closed | X |
| Baltic Panamax Index | 462 | Closed | X |
| Baltic Supramax Index | 450 | Closed | X |
| Baltic Handisize Index | 270 | Closed | x |
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| Bunkerworld fuel index | 447 | Down 2 | X |
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FOB port or location specified. Prices in US$, in metric tons:
All shipments in bulk grain vessels unless stated otherwise
(NOLA is New Orleans, Louisiana, USA.)
ALL PRICES ARE FOR January 2016/March 2016
| Wheat, USA Soft Red Winter, NOLA | USD 203/206 | x |
| Wheat, USA Hard Red Winter 12 protein | USD 216/219 | x |
| Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 187/190 | X |
| Wheat, Russia 12.5 pro, 30,000+ m/t | USD 187/192 | x |
| Wheat, Romania 12.5 pro | USD 188/192 | x |
| Wheat, Superior, France, Rouen | USD 182/185 | x |
| Wheat, Medium, France, Rouen | USD 179/182 | X |
| Wheat, milling, 12.0%, Argentina, upriver | USD 190/193 | x |
| Wheat, feed, Black Sea | USD 180/183 | x |
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| Barley, France, Rouen port | USD 174/177 | x |
| Barley, feed, Argentina, upriver | USD 180/184 | x |
| Barley, feed, Black Sea, 30,000+ | USD 177/182 | x |
| Barley, feed, USA Pacific Northwest | USD 220/225 | x |
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| Corn, FOB NOLA USA | USD 169/171 | X |
| Corn, CNF Asia, USA #2 | USD 217/219 | X |
| Corn, FOB USA Pacific northwest | USD 174/176 | x |
| Corn, FOB Argentina port, upriver | USD 157/162 | x |
| Corn, FOB Brazil port | USD 170/173 | x |
| Corn, FOB Black Sea, 30,000+ m/t | USD 165/169 | x |
| Corn, FOB France | USD 164/168 | x |
| Corn, FOB Romania | USD 165/169 | x |
| Sorghum, FOB Texas | USD 175/180 | X |
| Sorghum, FOB Argentina port | USD 136/140 | x |
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| Soymeal, 48% protein, FOB NOLA | USD 313/316 | x |
| Soymeal, 48% protein, USA, Rotterdam | USD 341/344 | X |
| Soymeal, USA CNF Asia | USD 375/380 | x |
| Soymeal, Argentina, Rotterdam | USD 328/332 | X |
| Soymeal, 47% pro, FOB Argentina | USD 290/295 | x |
| Soymeal, 48% protein, Brazil, Rotterdam | USD 330/333 | x |
| Soymeal, FOB Brazil | USD 290/294 | x |
| Soymeal, 48% protein, India FAQ | USD 540/550 | x |
| Soybeans, FOB NOLA | USD 360/365 | X |
| Soybeans USA #2, CNF Asia | USD 390/395 | X |
| Soybeans, Argentina, FOB | USD 319/322 | X |
| Soybeans, Brazil, FOB | USD 327/333 | X |
| Soybeans, Black Sea | USD no prices | x |
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| Corn Gluten Meal, USA FOB NOLA | USD 585/595 m/t | X |
| Corn Gluten Meal, USA CNF Asia, cont. | USD 620/625 m/t | X |
| Corn Gluten Meal, USA CNF Egypt, cont. | USD 645/655 m/t | x |
| Corn Gluten Feed, USA FOB NOLA | USD 152/157 m/t | x |
| DDGS corn, 35 profat, USA FOB NOLA | USD 178/181 m/t | X |
| DDGS corn, 35 profat, USA CNF Asia, cont | USD 215/218 m/t | X |
DDGS and corn gluten meal prices were reported to be just a little lower this week but with so many companies closed for the holidays it is very difficult to get an accurate picture of the market. Once everyone is back to work next week then we will be able to see exactly how the market is.
Container shipments, minimum 200 m/t
| Argentina Meat & Bone meal, 45/50 protein Argentina poultry meal, 57/60 protein Argentina feathermeal, 78/80 protein | USD 380/400 m/t CNF Asia USD 500/510 m/t CNF Asia USD 480/490 m/t CNF Asia |
| Paraguay Meat &Bone meal, 45% protein | USD 380/400 m/t CNF Asia |
| Australian MBM 45 protein Australian MBM 50 protein Australian Feathermeal, 80 protein Australian Poultry Meal, pet food | USD 390/400 m/t CNF Asia USD 430/450 m/t CNF Asia USD 470/480 m/t CNF Asia USD 720/740 m/t CNF Asia |
| USA Meat & Bone meal, 50 protein USA Feathermeal, 80 protein USA Poultry Meal, feed grade USA Poultry Meal, pet food grade | USD 380/390 m/t CNF Asia USD 450/460 m/t CNF Asia USD 500/520 m/t CNF Asia USD 700/720 m/t CNF Asia |
Animal protein prices in Asia are reported to be lower again this week as expected lower soymeal prices pressure the market. Australian prices are said to be down by about USD 20 m/t for meat and bone meal but with so little business being done, due to the holidays, and so few trade reports it is difficult to know exactly where the prices are.
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN
Landings in Peru were lower this week due to both fishing bans in some areas and holidays. It is probably great for the fishing fleet to have a ban that extends over the holidays, so that some can spend time with their families.
The average daily catch is at about 15,000 m/t with only 150 or so vessels out fishing. The total catch is now up to just over 800,000 m/t, so there are 30 days left to land another 300,000 m/t --- it looks like a full quota could be quite possible.
According to trade reports this week, there is about 200,000 m/t of fishmeal in stock in Peru and not much in the way of buying interest. Of course, the many holidays in Peru and other parts of the world probably mean that buyers are waiting until January to get back into the market.
Looking at the Peru fishmeal exports to the end of November shows that just over 86% of exports go to Asia with 7% to Europe and about 6% to South America. Of course, China is still the main destination with almost 75% of the Peru fishmeal export business.
European fishmeal prices – FOB North German port.
| Type | Protein % | Price per m/t USD |
| Herring fishmeal | 72 protein | 1,740 |
| Danish fishmeal | 64 protein | 1,505 |
| Peru fishmeal | 64 protein | 1,680 |
| Chile fishmeal | 67 protein | 1,760 |
| Iceland fishmeal | 70 protein | 1,760 |
PERU "INDICATION" FISHMEAL PRICES:
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 m/t for fishmeal
| Specification | Price per m/t FOB vessel Peru port | Price per m/t Chile port |
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| 65 protein | 1550/1570 m/t |
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| 65/66 protein | 1600/1620 m/t |
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| 67 protein standard steam | 1700/1720 m/t | No offers |
| 67 protein SD 150 TVN | 1800/1820 m/t | 1680/1700 |
| 67 protein SD 120 TVN | 1850/1870 m/t | 1700/1750 |
| 67 protein SD 1000 hist, 120 TVN | 1900/1920 m/t | 1750/1770 |
| 68 protein SD 500 hist, 120 TVN | 1950/2000 m/t | 1800/1820 |
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| Fish oil, crude bulk | 2000/2050 | 1800/1900 |
| Fish oil, crude drums | 2100/2150 |
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| Fish oil, flexi tank | 2150/2200 |
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| Fish oil, Omega 3: 28%EPA/DHA | 2450/2500 |
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INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine,
FAQ = fair average quality (normally flame or hot air dried), SD = steam dried
The information contained herein is based on sources that we believe to be reliable, but we do not represent that it is accurate or complete. Nothing contained herein should be considered as an offer to sell or a solicitation of an offer to buy. All references to prices are subject to change without notice. Any opinions expressed herein are solely those of the author. As such, they may differ in material respects from those of, or expressed or published by or on behalf of, Hammersmith Marketing Ltd or its officers, directors, employees or affiliates
Copyright © 2016 Wayne S. Bacon
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