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Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
HAPPY NEW YEAR!!!!!!
WEEKLY USA GRAIN AND PROTEIN REPORT December 30, 2023
US wheat prices finished the week USD 5 to 7 m/t higher pushed up by a mid-week rally th faded a little as the week ended. Trading volume was very low which leads to prices doing funny things. All will be back to normal by the end of next week.
Corn prices finished the week about unchanged as nothing seemed to get the market excited. Most trade reports expect that corn prices will continue lower going into early 2024.
Soybean prices moved lower by about USD 3 m/t as the soybean harvest in Brazil get closer. Soymeal prices were also lower and the premium for nearby soymeal has disappeared. Spot shipments of soymeal were down by about USD 10 to 13 m/t while later prices dropped just USD 3 to 5 m/t.
Once everyone get back to work after New Year then we will see longer term price direction being established again --- the last week of the year is never a good indication of price direction.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
There is no update for the Baltic Exchange as it was closed for the week.
US Gulf to Europe: Panamax | $31.00 | Steady | |
$31.00 | Steady | ||
US Gulf Israel: Panamax m/t | $38.00 | Steady | |
US Gulf to Egypt: Panamax | $38.00 | Steady | |
US Gulf Turkey: Panamax m/t | $39.00 | Steady | |
US Gulf Morocco: Handi | $39.00 | Steady | |
US Gulf Algeria/Tunisia: Handi | $40.00 | Steady | |
$45.00 | Steady | ||
US Gulf other Med: Handi | $41.00 | Steady | |
US Gulf South Africa: Handi | $41.00 | Steady | |
US Gulf to Philippines: Panamax | $52.00 | Steady | |
US Gulf Japan: Panamax | $61.00 | Steady | |
US Gulf China: Panamax | $60.00 | Steady | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $39.00 | Steady | |
US PNW Japan: Panamax | $32.00 | Steady | |
US PNW China: Panamax | $31.00 | Steady | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $60.00 | Steady | |
US Lakes – Morocco – 30,000 m/t | $69.00 | Steady | |
France/Germany to Algeria: Handi | $32.00 | Steady | |
France/Germany to China: Panamax | $82.00 | Steady | |
France/Germany to Egypt: Panamax | $33.00 | Steady | |
France/Germany to Iran: Panamax | $45.00 | Steady | |
France/Germany to Jordan | $40.00 | Steady | |
France/Germany to Morocco: Handi | $31.00 | 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 | $61.00 | Down $1.00 | |
Argentina to China: Panamax | $51.00 | Steady | |
Argentina to Japan: Panamax | $52.00 | Steady | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $37.00 | Steady | |
Argentina to Morocco: Handi | $60.00 | Down $1.00 | |
Argentina to Libya: Handi | $62.00 | Down $1.00 | |
Argentina to Jordan: Panamax | $55.00 | Steady | |
Argentina to Saudi Arabia: Panamax | $63.00 | Steady | |
Argentina to Iran: Panamax | $61.00 | Steady | |
Argentina to Indonesia: Panamax | $59.00 | Steady | |
Argentina to South Africa: Panamax | $35.00 | Steady | |
Argentina to Kenya: Handi | $57.00 | Steady | |
Argentina to Spain: Panamax | $37.00 | Steady | |
Argentina to Tunisia: Handi | $61.00 | Down $1.00 | |
Brazil to Algeria/Tunisia: Handi | $50.00 | Steady | |
Brazil to China: Panamax | $47.00 | Up $1.00 | |
Brazil to Japan: Panamax | $48.00 | Up $1.00 | |
Brazil to South Korea: Panamax | $48.00 | Steady | |
Brazil to Europe: Panamax | $40.00 | Up $1.00 | |
Brazil to Morocco: Handi | $49.00 | Steady | |
Brazil to Iran: Panamax | $61.00 | Steady | |
Brazil to Saudi Arabia 30/40,000 m/t | $64.00 | Steady | |
Brazil to Spain: Panamax | $40.00 | Up $1.00 | |
Brazil to Turkey/Egypt: Panamax | $59.00 | Steady | |
Australia to Saudi: Panamax | $52.00 | Steady | |
Australia to Europe: Panamax | $61.00 | Steady | |
Black Sea freight | |||
Black Sea to China: Panamax | $61 Russia | Ukraine $57 | |
Black Sea to Indonesia: Panamax | $60 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $24 Russia | Ukraine $30 | |
Black Sea to Egypt: 30,000 | $20 Russia | Ukraine $29 | |
Black Sea to Iran: Panamax | $53 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $30 | |
Black Sea to Morocco – Handi | $29 Russia | Ukraine $48 | |
Black Sea to Tunisia/Algeria – Handi | $28 Russia | Ukraine $47 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $53 | |
Black Sea to Libya – Handi | $29 Russia | Ukraine $48 | |
Black Sea to Saudi: Panamax | $46 Russia | Ukraine $71 | |
Black Sea to Turkey – Handi | $16 Russia | Ukraine $28 | |
Black Sea to South Africa – Handi | $57.00 | Steady | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $63.00 | Steady | |
Russia to Egypt – coaster 5,000 m/t | $83.00 | Steady | |
Ukraine to Turkey – coaster 5,000 m/t | $65.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $96.00 | Steady | |
Baltic Dry Index | 2094 | Closed | |
Baltic Capesize Index | 3398 | Closed | |
Baltic Panamax Index | 1909 | Closed | |
Baltic Supramax Index | 1369 | Closed | |
Baltic Handisize Index | 879 | Closed | |
Global Container Index - Freightos | 1346 | Closed | |
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All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR January 2024/March 2024
Wheat, USA Soft Red Winter, US Gulf | USD 255<<260 Apr | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 285<<290 Apr | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 210<<220 Apr | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 240<<250 Apr | |
Wheat, Romania 12.5 pro | USD 275<<285 Apr | |
Wheat, Superior, France, Rouen | USD 244<<250 Apr | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 245<<255 Apr | |
Wheat, feed, Black Sea | USD 200/210 | |
Barley, France, Rouen port | USD 225/228 | |
Barley, feed, Argentina, upriver | USD 222/225 | |
Barley, feed, Black Sea, 30,000+ | USD 190/195 | |
Barley, feed, Australia | USD 260/265 | |
Corn, 2YC FOB NOLA USA | USD 210<<215 Apr | |
Corn, 3YC FOB USA Pacific northwest | USD 230<<235 Apr | |
Corn, FOB Argentina port, upriver | USD 200<<210 Apr | |
Corn, FOB Brazil port | USD 200<<220 Apr | |
Corn, FOB France – Atlantic | USD 220/223 | |
Corn, FOB Romania | USD 230<<240 Apr | |
Corn, FOB Russia | USD 210<<225 Apr | |
Corn, FOB Ukraine, 30,000+ m/t | USD 190<<205 Apr | |
Sorghum, FOB Argentina port | USD 285/290 | |
Sorghum, FOB Texas | USD 255/260 | |
Soymeal, 48% protein, FOB NOLA | USD 475>>445 Apr | |
Soymeal, 48% protein, USA, Rotterdam | USD 505>>475 Apr | |
Soymeal, 47% pro, FOB Argentina | USD 475>>430 Apr | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 510/515 | |
Soymeal, 48% protein, FOB Brazil | USD 470>>420 Apr | |
Soybeans, FOB NOLA | USD 470<<490 Apr | |
Soybeans, Argentina, FOB | USD 495>>470 Apr | |
Soybeans, Brazil, FOB | USD 490>>460 Apr | |
Soybeans, Black Sea | USD 485<<500 Apr | |
Corn Gluten Meal, USA FOB NOLA | USD 630/640 | |
Corn Gluten Feed, USA FOB NOLA | USD 225/230 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 275>>265 Apr | |
Due to the holiday week, there was very little activity in the corn coproduct market. The limited prices available show no change from last week.
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Almost no landings in the past week – only just over 2,000 m/t --- the quota remaining stands at 576,000 m/t. Peru fishmeal production to date is estimated at 249,000 m/t and fishoil at 5,300 m/t.
Trade reports say that current sales in Peru have picked up a little with about 200,000 m/t of the new production now sold.
Peru’s fishmeal exports in 2023 to the end of November were down by 52% to 489,000 --- all due to a lack of supply not a shortage of buyers. China is still the number one market with 81% of all export shipments – 395,000 m/t. Ecuador, German and Japan are the next biggest buyers, but their total is only 14.1% of exports – 39,200 m/t. Overall, 87% of Peru’s fishmeal exports went to Asia.
Peru’s fishmeal shipments to China in January to November 2023 represent 27.3% of China’s fishmeal imports, followed by Vietnam at 15.8% then Russia, Thailand, India and Chili with about 7.0% each. China’s total fishmeal imports to the end of November are at 1.53 million m/t. 47.6% of China’s fishmeal imports come from North, South and Central America with 37.1% from Asia.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Danish standard fishmeal | 71% protein | 2,050 |
Peru fishmeal | 65% protein | 1,985 |
Chile fishmeal | 66% protein | 1,995 |
Iceland fishmeal | 71% protein | 2,085 |
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 |
65% protein standard steam | 1550/1570 | |
67% protein 150 TVN | 1650/1670 | |
67% protein 120 TVN | 1800/1820 | 1820/1840 |
67% protein 1000 hist, 120 TVN | 1900/1920 | 1920/1940 |
68% protein 500 hist, 100 TVN | 2000/2020 | 2050/2070 |
Fish oil, crude bulk | No prices | 5,100/5,200 |
Fish oil, crude 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: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2023 Wayne S. Bacon
