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WEEKLY USA GRAIN AND PROTEIN REPORT March 30, 2024
The lower level of corn planting intentions helped to push corn prices up by USD 6 m/t on Thursday (markets were closed on Friday). However, estimated corn stocks were moved higher compared to last month’s report which probably stopped corn prices from going higher.
Both soybeans and soymeal prices changed very little after the reports as planting intentions were higher, but stocks were lower --- so, seemed to be a neutral effect.
Grain stocks for wheat showed quite a drop from the last report and were seen by the USDA to be just below the lowest trade estimate. US winter wheat prices moved higher after the reports by about USD 4 m/t while spring wheat drifted a little lower.
This is Easter week in Christian countries with some countries on holidays on both or either Friday and Monday. Markets are quieter due to the short work week.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $30.00 | Down $2.00 | |
$30.00 | Down $2.00 | ||
US Gulf Israel: Panamax m/t | $27.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $27.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $28.00 | Down $1.00 | |
US Gulf Morocco: Handi | $41.00 | Up $1.00 | |
US Gulf Algeria/Tunisia: Handi | $42.00 | Up $1.00 | |
$36.00 | Steady | ||
US Gulf other Med: Handi | $43.00 | Up $1.00 | |
US Gulf South Africa: Handi | $41.00 | Steady | |
US Gulf India : Panamax | $51.00 | Steady | |
US Gulf to Philippines: Panamax | $52.00 | Steady | |
US Gulf Japan: Panamax | $54.00 | Down $5.00 | |
US Gulf China: Panamax | $53.00 | Down $5.00 | |
US PNW Egypt: Panamax via Panama | $47.00 | Steady | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $35.00 | Steady | |
US PNW Japan: Panamax | $28.00 | Down $2.00 | |
US PNW China: Panamax | $27.00 | Down $2.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $00.00 | Closed | |
US Lakes – Morocco – 30,000 m/t | $00.00 | Closed | |
France/Germany to Algeria: Handi | $32.00 | Steady | |
France/Germany to China: Panamax | $73.00 | Down $1.00 | |
France/Germany to Egypt: Panamax | $34.00 | Steady | |
France/Germany to Iran: Panamax | $42.00 | 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 | $54.00 | Down $5.00 | |
Argentina to Japan: Panamax | $55.00 | Down $5.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $29.00 | Steady | |
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 | $58.00 | Steady | |
Argentina to South Africa: Panamax | $35.00 | Steady | |
Argentina to Kenya: Handi | $57.00 | Steady | |
Argentina to Spain: Panamax | $29.00 | Steady | |
Argentina to Tunisia: Handi | $62.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $50.00 | Steady | |
Brazil to China: Panamax | $50.00 | Down $3.00 | |
Brazil to Japan: Panamax | $51.00 | Down $3.00 | |
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 | $55.00 | Steady | |
Australia to Europe: Panamax | $64.00 | Steady | |
Black Sea freight | |||
Black Sea to China: Panamax | $66 Russia | Ukraine $66 | |
Black Sea to Indonesia: Panamax | $59 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $22 Russia | Ukraine $30 | |
Black Sea to Egypt: 30,000 | $23 Russia | Ukraine $28 | |
Black Sea to Iran: Panamax | $54 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $27 Russia | Ukraine $37 | |
Black Sea to Morocco – Handi | $33 Russia | Ukraine $40 | |
Black Sea to Tunisia/Algeria – Handi | $32 Russia | Ukraine $39 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $33 Russia | Ukraine $40 | |
Black Sea to Saudi: Panamax | $45 Russia | Ukraine $70 | |
Black Sea to Turkey – Handi | $19 Russia | Ukraine $26 | |
Black Sea to South Africa – Handi | $57.00 | Steady | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $40.00 | Corrected | |
Russia to Egypt – coaster 5,000 m/t | $66.00 | Corrected | |
Ukraine to Turkey – coaster 5,000 m/t | $65.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $65.00 | Steady | |
Baltic Dry Index | 1821 | Down 375 | |
Baltic Capesize Index | 2637 | Down 845 | |
Baltic Panamax Index | 1879 | Down 486 | |
Baltic Supramax Index | 1331 | Down 52 | |
Baltic Handisize Index | 772 | Down 23 | |
Global Container Index - Freightos | 2716 | Up 93 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR April 2024/June 2024
Wheat, USA Soft Red Winter, US Gulf | USD 228<<231 July | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 265>>254 July | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 195>>190 July | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 205>>200 July | |
Wheat, Romania 12.5 pro | USD 215<<220 July | |
Wheat, Superior, France, Rouen | USD 217/220 Spot | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 225<<230 July | |
Wheat, feed, Black Sea | USD 185/195 | |
Barley, France, Rouen port | USD 200/205 | |
Barley, feed, Argentina, upriver | USD 190/195 | |
Barley, feed, Black Sea, 30,000+ | USD 170/175 | |
Barley, feed, Australia | USD 235/240 | |
Corn, 2YC FOB NOLA USA | USD 190<<195 July | |
Corn, 3YC FOB USA Pacific northwest | USD 220<<225 July | |
Corn, FOB Argentina port, upriver | USD 195>>190 July | |
Corn, FOB Brazil port | USD 200<<205 July | |
Corn, FOB France – Atlantic | USD 213<<218 July | |
Corn, FOB Romania | USD 190<<195 July | |
Corn, FOB Russia | USD 175<<185 July | |
Corn, FOB Ukraine, 30,000+ m/t | USD 178<<183 July | |
Sorghum, FOB Argentina port | USD 280/290 | |
Sorghum, FOB Texas | USD 255>>248 June | |
Soymeal, 48% protein, FOB NOLA | USD 385<<390 July | |
Soymeal, 48% protein, USA, Rotterdam | USD 415>>420 July | |
Soymeal, 47% pro, FOB Argentina | USD 380>>375 July | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 420/425 | |
Soymeal, 48% protein, FOB Brazil | USD 370<<375 July | |
Soybeans, FOB NOLA | USD 460<<465 July | |
Soybeans, Argentina, FOB | USD 430<<435 July | |
Soybeans, Brazil, FOB | USD 430>>440 July | |
Soybeans, Black Sea | USD 425<<430 July | |
Corn Gluten Meal, USA FOB NOLA | USD 550/560 | |
Corn Gluten Feed, USA FOB NOLA | USD 210/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 230>>225 July | |
Sorry that there have been no comments on corn coproducts recently but I have lost my source of pricing and market information and am working on other possible sources.
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Peru is closed this week for a four day Easter holiday – reopening on April 01.
Once again there was no catch reported for the South of Per region.
Trade reports this week show that prices for the next season are steady for the higher grades but down about USD 50 m/t for lower grades.
There is no new business to report as the presale level has not changed from 100,000 m/t in a few weeks.
Total Peru fishmeal export shipments for January/February 2024 total 195,000 m/t with 173,700 m/t going to China.
Just FYI, the next IFFO meeting will be held in Miami April 15 to 17. Perhaps a time for lots of new business to be done.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,715 |
Danish standard fishmeal | 71% protein | 1,895 |
Peru fishmeal | 65% protein | 1,860 |
Chile fishmeal | 66% protein | 1,900 |
Iceland fishmeal | 71% protein | 1,860 |
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 | 1650/1750 | |
67% protein 120 TVN | 1750/1770 | 1770/1790 |
67% protein 1000 hist, 120 TVN | 1900/1900 | 1870/1890 |
68% protein 500 hist, 100 TVN | 2030/2050 | 2000/2020 |
Fish oil, crude bulk | No prices | 5,000 |
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
