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Avenue Marie Gasquet, St Remy de Provence, 13210 France
Phone
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Email
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WEEKLY USA GRAIN AND PROTEIN REPORT June 03, 2023
The
week finished on a strong note for grains and oilseeds although soymeal didn’t act
the same.
US corn prices moved up by about USD 5 m/t on Friday but were still only
up by a couple of dollars on the week. Soybeans were up by USD 7 m/t on Friday which
only got prices back to unchanged from last week. Soymeal was down a little on
Friday and down by about USD 6 to 8 on the week. US winter and spring wheat
were both up on Friday, but spring wheat still finished the week down by about
USD 5 m/t while winter wheat moved in a range of about USD 4 – a little down
and a little up.
Corn prices are being moved higher by the continued hot dry weather with
soybeans moving higher on an increased crushing rate in the US.
Corn exports looked a little better this week but both wheat and soybeans
had a bad week. However, even for a good week, corn exports were still well
below expectations. The higher price for soybeans was a bit of a surprise due
to the long-term downtrend in prices but it may just have been a little weather
concern or short covering as some experts feel.
Market expert say that the higher wheat on Friday was due to concern over
the Black Sea situation and a reaction to everything else being higher. There weren’t
any weather problems that affected wheat.
Estimated Bulk Grain Freight in USD per
m/t, basis heavy grains.
|
US Gulf
to Europe: Panamax
|
$27.00 |
Down $1.00 |
|
$27.00 |
Down $1.00 |
|
|
US Gulf Israel: Panamax m/t |
$28.00 |
Down $1.00 |
|
US Gulf to Egypt: Panamax |
$28.00 |
Down $1.00 |
|
US Gulf Turkey: Panamax m/t |
$29.00 |
Down $1.00 |
|
US Gulf Morocco: Handi |
$31.00 |
Down $1.00 |
|
US Gulf Algeria/Tunisia: Handi |
$32.00 |
Down $1.00 |
|
US Gulf Nigeria: 30,000 m/t |
$44.00 |
Steady |
|
US Gulf other Med: Handi |
$34.00 |
Down $1.00 |
|
US Gulf South Africa: Handi |
$41.00 |
Steady |
|
US Gulf to India: Panamax |
$47.00 |
Steady |
|
US Gulf to Philippines: Panamax |
$52.00 |
Steady |
|
US Gulf Japan: Panamax |
$48.00 |
Down $2.00 |
|
US Gulf China: Panamax |
$47.00 |
Down $2.00 |
|
US PNW South Africa – 40,000 m/t |
$65.00 |
Steady |
|
US PNW Egypt: Panamax |
$29.00 |
Down $1.00 |
|
US PNW Philippines: Panamax |
$39.00 |
Steady |
|
US PNW Japan: Panamax |
$27.00 |
Down $1.00 |
|
US PNW China: Panamax |
$26.00 |
Down $1.00 |
|
US East Coast Nigeria: Handisize |
$45.00 |
Steady |
|
US Lakes – Europe – 30,000 m/t |
$52.00 |
Steady |
|
US Lakes – Morocco – 30,000 m/t |
$61.00 |
Steady |
|
|
|
|
|
France/Germany to Algeria:
Handi |
$30.00 |
Steady |
|
France/Germany to Bangladesh |
$82.00 |
Steady |
|
France/Germany to China: Panamax |
$80.00 |
Steady |
|
France/Germany to Egypt: Panamax |
$24.00 |
Steady |
|
France/Germany to India: Panamax |
$53.00 |
Steady |
|
France/Germany to Iran: Panamax |
$45.00 |
Steady |
|
France/Germany to Jordan |
$37.00 |
Steady |
|
France/Germany to Morocco: Handi |
$29.00 |
Steady |
|
France/Germany to
Saudi Arabia: Panamax |
$62.00 |
Steady |
|
France/Germany to South Africa: Handi |
$46.00 |
Steady |
|
France/Germany to Turkey: Handi |
$33.00 |
Steady |
|
France/Germany to Yemen: Handi |
$63.00 |
Steady |
|
|
|
|
|
|
|
|
|
Argentina to Algeria: Handi |
$55.00 |
Up $1.00 |
|
Argentina to China: Panamax |
$43.00 |
Down $2.00 |
|
Argentina to Japan: Panamax |
$44.00 |
Down $1.00 |
|
Argentina to Egypt: Panamax |
$56.00 |
Steady |
|
Argentina to Europe: Panamax |
$42.00 |
Steady |
|
Argentina to Morocco: Handi |
$54.00 |
Up $1.00 |
|
Argentina to Libya: Handi |
$56.00 |
Up $1.00 |
|
Argentina to Jordan: Panamax |
$55.00 |
Steady |
|
Argentina to Saudi Arabia: Panamax |
$64.00 |
Steady |
|
Argentina to Iran: Panamax |
$61.00 |
Steady |
|
Argentina to India: Panamax |
$62.00 |
Steady |
|
Argentina to Bangladesh: Panamax |
$66.00 |
Steady |
|
Argentina to Indonesia: Panamax |
$59.00 |
Steady |
|
Argentina to South Africa: Panamax |
$35.00 |
Steady |
|
Argentina to Kenya: Handi |
$49.00 |
Steady |
|
Argentina to Spain: Panamax |
$42.00 |
Steady |
|
Argentina to Tunisia: Handi |
$55.00 |
Up $1.00 |
|
|
|
|
|
Brazil to Algeria/Tunisia: Handi |
$53.00 |
Steady |
|
Brazil to China: Panamax |
$35.00 |
Down $4.00 |
|
Brazil to Japan: Panamax |
$37.00 |
Down $3.00 |
|
Brazil to South Korea: Panamax |
$48.00 |
Steady |
|
Brazil to Europe: Panamax |
$42.00 |
Steady |
|
Brazil to Morocco: Handi |
$52.00 |
Steady |
|
Brazil to Iran: Panamax |
$61.00 |
Steady |
|
Brazil to Bangladesh: Panamax |
$67.00 |
Steady |
|
Brazil to Saudi Arabia 30/40,000 m/t |
$65.00 |
Steady |
|
Brazil to Spain: Panamax |
$42.00 |
Steady |
|
Brazil to Turkey/Egypt: Panamax |
$63.00 |
Steady |
|
|
|
|
|
Australia to Saudi: Panamax |
$55.00 |
Steady |
|
Australia to Europe: Panamax |
$64.00 |
Steady |
|
|
|
|
|
Black Sea freight |
|
|
|
Black Sea to China: Panamax |
Russia $55 Ukraine $58 |
|
|
Black Sea to Indonesia: Panamax |
Russia $53 Ukraine $63 |
|
|
Black Sea to Bangladesh : Panamax |
Russia $47 Ukraine $56 |
|
|
Black Sea to Egypt: 40/50,000 |
$24 Russia $30 Ukraine |
|
|
Black Sea to Egypt: 30,000 |
$20 Russia $36 Ukraine |
|
|
Black Sea to Iran: Panamax |
$49 Russia $60 Ukraine |
|
|
Black Sea to Europe: Panamax |
$29 Russia $32 Ukraine |
|
|
Black Sea to Morocco – Handi |
$29 Russia $39 Ukraine |
|
|
Black Sea to Tunisia/Algeria – Handi |
$28 Russia $38 Ukraine |
|
|
Black Sea to Jordan: Panamax |
$37 Russia $53 Ukraine |
|
|
Black Sea to Libya – Handi |
$30 Russia $41 Ukraine |
|
|
Black Sea to Saudi: Panamax |
$42 Russia $54 Ukraine |
|
|
Black Sea to Turkey – Handi |
$20 Russia $27 Ukraine |
|
|
Black Sea to South Africa – Handi |
$57.00 |
|
|
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 m/t |
$34.00 |
Steady |
|
Russia to Egypt – coaster
5,000 m/t |
$65.00 |
Steady |
|
Ukraine to Turkey – coaster 5,000 m/t |
$33.00 |
Steady |
|
Ukraine to Egypt – coaster 5,000 m/t |
$52.00 |
Steady |
|
|
|
|
|
|
|
|
|
Baltic Dry Index |
919 |
Down 253 |
|
Baltic Capesize Index |
1116 |
Down 567 |
|
Baltic Panamax Index |
1030 |
Down 89 |
|
Baltic Supramax Index |
879 |
Down 67 |
|
Baltic Handisize Index |
545 |
Down 43 |
|
|
|
|
|
Global Container Index - Freightos |
1380 |
Down 66 |
|
|
|
|
All shipments in
bulk grain vessels unless stated otherwise.
(NOLA
is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL
PRICES ARE FOR June 2023/August 2023
|
Wheat, USA Soft Red Winter, US Gulf |
USD 248<<258 Sep |
|
Wheat, USA Hard Red Winter 11 protein, US
Gulf |
USD 348<<356 Oct |
|
Wheat, Ukraine 11.5 pro, 30,000+ m/t |
USD 215/220 |
|
Wheat, Russia 12.5 pro, 30,000+ m/t |
USD 220/225
|
|
Wheat, Romania 12.5 pro |
USD 245/>>235 Sep |
|
Wheat, Superior, France, Rouen |
USD 240/243 |
|
Wheat, milling, 12.0%, Argentina, Upriver |
USD 330/335 |
|
Wheat, feed, Black Sea |
USD 215/220 |
|
|
|
|
Barley, France, Rouen port |
USD 230/233 |
|
Barley, feed, Argentina, upriver |
USD 230/235 |
|
Barley, feed, Black Sea, 30,000+ |
USD 195/200 |
|
Barley, feed, Australia |
USD 230/235 |
|
|
|
|
Corn, 2YC FOB NOLA USA |
USD 260>>240 Sep |
|
Corn, 3YC FOB USA Pacific northwest |
USD 295>>265 Sep |
|
Corn, FOB Argentina port, upriver |
USD 220>>215 Sep |
|
Corn, FOB Brazil port |
USD 240>>225 Sep |
|
Corn, FOB France – Atlantic |
USD 234/237 |
|
Corn, FOB Romania |
USD 220/225 |
|
Corn, FOB Russia |
USD 225/235 |
|
Corn, FOB Ukraine, 30,000+ m/t |
USD 215/220 |
|
Sorghum, FOB Argentina port |
USD 265/270 |
|
Sorghum, FOB Texas |
USD 285>>270 Aug |
|
|
|
|
Soymeal, 48% protein, FOB NOLA |
USD 460>>455 Sep |
|
Soymeal, 48% protein, USA, Rotterdam |
USD 490>>485 Sep |
|
Soymeal, 47% pro, FOB Argentina |
USD 460>>455 Sep |
|
Soymeal, 48% protein, Brazil, Rotterdam –
spot |
USD 485/490 |
|
Soymeal, 48% protein, FOB Brazil |
USD 455>>440 Sep |
|
|
|
|
Soybeans, FOB NOLA |
USD 525>>480 Sep |
|
Soybeans, Argentina, FOB |
USD 510>>500 Sep |
|
Soybeans, Brazil, FOB |
USD 475>>470 Sep |
|
Soybeans, Black Sea |
USD 490>>435 Ukraine |
|
|
|
|
Corn Gluten Meal, USA FOB NOLA |
USD 670/680 |
|
Corn Gluten Feed, USA FOB NOLA |
USD 235/245 |
|
DDGS corn, 35 profat, USA FOB NOLA |
USD 255/260 |
|
|
|
Lower
soymeal prices this week have helped to move DDGS and corn gluten meal prices
lower. Corn gluten meal has dropped considerably in recent weeks as the domestic
demand in the US has fallen off. Looks like the pet food industry couldn’t afford
the high CGM prices either. USA FOB prices for CGM have dropped by about USD
200 m/t since the early 2023 highs.
DDGS
prices were down by about USD 5 m/t this week as new crop corn is at a USD 30
m/t discount to old crop --- so, all the buyer are out later in 2023 where
prices are better. According to the US Grains Council DDGS prices CNF Asia are
down by close to USD 11 m/t.
SECTION 2 ---
FISHMEAL COMMENTS AND PRICES: PERUVIAN
So, here
we go --- the new North/Central fishing quota has been announced at 1,091,000
m/t with exploratory fishing to begin on June 03 for 7 days. At the end of the
first 7 days, it will be decided by the
government whether to continue the fishing season or not.
There is
concern that the high juvenile level could stop the season start or at least
result in area mini-bans – we will see on the 10th.
A quota
chart prepared by MSI Ceres shows that this quota is the lowest seen in 10 years.
The most recent low quota was 1.8 million m/t back in 2016.
Fishing
in the south was almost nothing due to bad weather which leaves 311,700 m/t on
the Southern region quota. Landings to cate are just at 25,300 m/t.
Fishmeal
market pre-sales are at 100,000 m/t but with the low quota may jump higher in
coming days. The low quota could also cause havoc with prices as buyers may
jump in to get a much of the limited new season supply as possible.
PERU “INDICATION”
FISHMEAL PRICES:
European fishmeal prices – FOB North
German port.
|
Type |
Protein % |
Price per m/t USD |
|
Herring fishmeal |
72% protein |
2,010 |
|
Danish fishmeal |
64% protein |
1,800 |
|
Peru fishmeal |
64% protein |
2,000 |
|
Chile fishmeal |
67% protein |
2,000 |
|
Iceland fishmeal |
70% protein |
1,910 |
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 |
1850/1860 m/t |
|
|
67% protein 150 TVN |
1900/1910 m/t |
|
|
67% protein 120 TVN |
1950/1960 m/t |
1950/1960 |
|
67% protein 1000 hist, 120 TVN |
2000/2010 m/t |
2000/20100 |
|
68% protein 500 hist, 100 TVN |
2050/2060 m/t |
2050/2060 |
|
|
|
|
|
Fish oil, crude bulk |
No prices |
|
|
Fish oil, crude drums |
No prices |
|
|
Fish oil, flexi tank |
No prices |
|
|
Fish oil, Omega 3: 28%EPA/DHA |
No prices |
|
INFORMATION: gtee = guarantee, TVN = total volatile
nitrogen, hist = histamine
Copyright © 2023 Wayne S.
Bacon
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