3 Avenue Marie Gasquet, 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 January 13, 2024
As the week ended, USA corn prices were down by about USD 5 m/t with soybeans down by USD 12 m/t and soymeal down USD 7 to 10 m/t. USA winter wheat was down by USD 4 to 6 m/t with spring wheat down by USD 4 m/t.
Corn futures prices are now at the contract low as both production and stocks are higher. Trade experts feel that corn prices will move lower perhaps by USD 13 to 15 m/t in the coming days. Soybean prices dropped quickly after the report but then moved back a little as bargain hunters bought some beans. Experts say that soybeans could move lower but not all are certain about that. Larger stocks pushed wheat prices lower with most traders expecting even lower prices.
Next week should be quite exciting for grain and oilseed prices.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
Dry bulk freight is moving lower due to Chinese New Year and the drop in nearby demand. However, the Red Sea problems that are mainly affecting container vessels continues to push container ocean freight higher. Fertilizer shipments from Jordan and Egypt to the major markets in Asia are having some difficulty moving as are Black Sea grain shipments to Asia. EU grain shipments to China are said to be rerouting around Africa.
US Gulf to Europe: Panamax | $28.00 | Down $5.00 | |
$28.00 | Down $5.00 | ||
US Gulf Israel: Panamax m/t | $36.00 | Down $6.00 | |
US Gulf to Egypt: Panamax | $36.00 | Down $6.00 | |
US Gulf Turkey: Panamax m/t | $37.00 | Down $6.00 | |
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 | $58.00 | Down $3.00 | |
US Gulf China: Panamax | $57.00 | Down $3.00 | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $39.00 | Steady | |
US PNW Japan: Panamax | $25.00 | Down $7.00 | |
US PNW China: Panamax | $24.00 | Down $7.00 | |
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 | $34.00 | 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 | $62.00 | Steady | |
Argentina to China: Panamax | $47.00 | Down $4.00 | |
Argentina to Japan: Panamax | $48.00 | Down $4.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $36.00 | Down $1.00 | |
Argentina to Morocco: Handi | $61.00 | Steady | |
Argentina to Libya: Handi | $62.00 | Steady | |
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 | $59.00 | Up $2.00 | |
Argentina to Spain: Panamax | $36.00 | Down $1.00 | |
Argentina to Tunisia: Handi | $62.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $50.00 | Steady | |
Brazil to China: Panamax | $40.00 | Down $5.00 | |
Brazil to Japan: Panamax | $41.00 | Down $5.00 | |
Brazil to South Korea: Panamax | $48.00 | Steady | |
Brazil to Europe: Panamax | $39.00 | Steady | |
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 | $39.00 | Steady | |
Brazil to Turkey/Egypt: Panamax | $59.00 | Steady | |
Australia to Saudi: Panamax | $52.00 | Down $1.00 | |
Australia to Europe: Panamax | $61.00 | Steady | |
Black Sea freight | |||
Black Sea to China: Panamax | $62 Russia | Ukraine $57 | |
Black Sea to Indonesia: Panamax | $59 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $24 Russia | Ukraine $28 | |
Black Sea to Egypt: 30,000 | $20 Russia | Ukraine $28 | |
Black Sea to Iran: Panamax | $53 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $27 Russia | Ukraine $36 | |
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 | $45 Russia | Ukraine $70 | |
Black Sea to Turkey – Handi | $16 Russia | Ukraine $28 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $44.00 | Corrected | |
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 | $94.00 | Down $1.00 | |
Baltic Dry Index | 1460 | Down 650 | |
Baltic Capesize Index | 2172 | Down 1626 | |
Baltic Panamax Index | 1410 | Down 256 | |
Baltic Supramax Index | 1088 | Down 124 | |
Baltic Handisize Index | 616 | Down 79 | |
Global Container Index - Freightos | 2613 | Up 124 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR February 2024/April 2024
Wheat, USA Soft Red Winter, US Gulf | USD 254<<258 May | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 283<<286 May | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 210<<220 May | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 242<<245 May | |
Wheat, Romania 12.5 pro | USD 247<<255 May | |
Wheat, Superior, France, Rouen | USD 244<<250 May | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 240<<255 May | |
Wheat, feed, Black Sea | USD 200/210 | |
Barley, France, Rouen port | USD 222/225 | |
Barley, feed, Argentina, upriver | USD 225/230 | |
Barley, feed, Black Sea, 30,000+ | USD 190/195 | |
Barley, feed, Australia | USD 255/260 | |
Corn, 2YC FOB NOLA USA | USD 200<<205 May | |
Corn, 3YC FOB USA Pacific northwest | USD 220<<225 May | |
Corn, FOB Argentina port, upriver | USD 215>>200 May | |
Corn, FOB Brazil port | USD 220>>205 May | |
Corn, FOB France – Atlantic | USD 221/224 | |
Corn, FOB Romania | USD 215<<220 May | |
Corn, FOB Russia | USD 215<<230 May | |
Corn, FOB Ukraine, 30,000+ m/t | USD 185<<190 May | |
Sorghum, FOB Argentina port | USD 280/290 | |
Sorghum, FOB Texas | USD 258/263 | |
Soymeal, 48% protein, FOB NOLA | USD 425<<410 May | |
Soymeal, 48% protein, USA, Rotterdam | USD 460<<445 May | |
Soymeal, 47% pro, FOB Argentina | USD 435>>375 May | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 490/495 | |
Soymeal, 48% protein, FOB Brazil | USD 420>>380 May | |
Soybeans, FOB NOLA | USD 470<<475 May | |
Soybeans, Argentina, FOB | USD 445>>415 May | |
Soybeans, Brazil, FOB | USD 440>>430 May | |
Soybeans, Black Sea | USD 470<<490 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 255>>245 Apr | |
Prices softened this week for all corn coproducts as corn prices in the US moved lower and the cost of domestic transport in the US was weaker. Nearby DDGS prices are said to be down by as much as USD 15 m/t. Trade reports say that some of the drop in FOB US prices is due to the much higher container freight rates as exporters try to hold on to export business.
Container freight rates continue to move higher, which is going to keep buyers out of the market, at least for the short term.
The higher container freight rates will have a serious effect on exports of both DDGS and corn gluten meal, much of which goes in containers. CNF prices in containers are up by as much as USD 30 m/t to some destinations.
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The North/Central Peru fishing season has officially come to an end on January 13, 2004. Fishing is said to have been halted as spawning has begun.
The latest catch numbers, as of January 11, show a total of 1,252,700 m/t landed which had left 429,300 m/t on the quota.
Fishmeal production to January 11 is estimated to be 282,600 m/t with fishoil production at 5,800 m/t.
There has been no change in prices this week and sales booked still stand at about 250,000 m/t, which would only leave about 35,000 m/t unsold. It is likely that fishmeal prices will move higher due to the limited stock available for sale.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,825 |
Danish standard fishmeal | 71% protein | 2,045 |
Peru fishmeal | 65% protein | 1,965 |
Chile fishmeal | 66% protein | 1,975 |
Iceland fishmeal | 71% protein | 2,080 |
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 © 2024 Wayne S. Bacon
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.