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WEEKLY USA GRAIN AND PROTEIN REPORT April 27, 2024
This week was an up week for prices for all grains and oilseeds --- USA corn prices were up by about USD 5 m/t with soybeans up by USD 10 m/t and US soymeal up by as much as USD 9 m/t. USA winter wheat jumped by as much as USD 29 m/t with spring wheat up by close to USD 25 m/t.
USA wheat had a very strong week and most trade reports are tying the increase to high world demand and questions about supply in some countries. The rush higher in wheat seemed to have very little to do with any USA based factors, all just international supply and demand factors.
US corn prices are said to have rallied on the week due to problems in Brazil which could affect the current corn crop. In the US, the situation for the corn crop is actually improving as much needed rainfall has been seen in a wider area of the corn belt.
US soybean prices are said to be higher on the week due to problems in both Brazil and Argentina where rainfall has delayed the soybean harvest in both countries. The Argentina soybean harvest is only half of the normal level due to the rain and Brazil is having trouble finishing its soybean harvest because of heavy rain. Of course, the rain is welcome for the next crop but no one wants it during harvest.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $30.00 | Up $3.00 | |
$30.00 | Up $3.00 | ||
US Gulf Israel: Panamax m/t | $27.00 | Up $2.00 | |
US Gulf to Egypt: Panamax | $27.00 | Up $2.00 | |
US Gulf Turkey: Panamax m/t | $28.00 | Up $2.00 | |
US Gulf Morocco: Handi | $41.00 | Up $2.00 | |
US Gulf Algeria/Tunisia: Handi | $42.00 | Up $2.00 | |
$36.00 | Steady | ||
US Gulf other Med: Handi | $43.00 | Up $2.00 | |
US Gulf South Africa: Handi | $41.00 | Steady | |
US Gulf India : Panamax | $52.00 | Up $1.00 | |
US Gulf to Philippines: Panamax | $52.00 | Steady | |
US Gulf Japan: Panamax | $56.00 | Up $2.00 | |
US Gulf China: Panamax | $55.00 | Up $2.00 | |
US PNW Egypt: Panamax via Panama | $50.00 | Up $2.00 | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $34.00 | Steady | |
US PNW Japan: Panamax | $29.00 | Up $1.00 | |
US PNW China: Panamax | $28.00 | Up $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 | $58.00 | Steady | |
France/Germany to Algeria: Handi | $32.00 | Steady | |
France/Germany to China: Panamax | $72.00 | Steady | |
France/Germany to Egypt: Panamax | $34.00 | Steady | |
France/Germany to Iran: Panamax | $42.00 | Steady | |
France/Germany to Jordan | $42.00 | 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 | $56.00 | Up $2.00 | |
Argentina to Japan: Panamax | $57.00 | Up $2.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $26.00 | 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 | $26.00 | Steady | |
Argentina to Tunisia: Handi | $62.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $50.00 | Steady | |
Brazil to China: Panamax | $49.00 | Steady | |
Brazil to Japan: Panamax | $50.00 | Steady | |
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 | $59.00 | Up $1.00 | |
Australia to Europe: Panamax | $68.00 | Up $1.00 | |
South Africa to Italy -- Handisize | $46.00 | Steady | |
South Africa to Turkey – Handisize | $47.00 | Steady | |
South Africa to Japan – Handisize | $42.00 | Steady | |
South Africa to China -- Handisize | $43.00 | Steady | |
Black Sea freight | |||
Black Sea to China: Panamax | $63 Russia | Ukraine $57 | |
Black Sea to Indonesia: Panamax | $59 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $20 Russia | Ukraine $30 | |
Black Sea to Egypt: 30,000 | $22 Russia | Ukraine $27 | |
Black Sea to Iran: Panamax | $56 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $27 Russia | Ukraine $34 | |
Black Sea to Morocco – Handi | $30 Russia | Ukraine $41 | |
Black Sea to Tunisia/Algeria – Handi | $29 Russia | Ukraine $40 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $30 Russia | Ukraine $41 | |
Black Sea to Saudi: Panamax | $46 Russia | Ukraine $70 | |
Black Sea to Turkey – Handi | $21 Russia | Ukraine $26 | |
Black Sea to South Africa – Handi | $55.00 | Steady | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $39.00 | Down $1.00 | |
Russia to Egypt – coaster 5,000 m/t | $64.00 | Down $2.00 | |
Ukraine to Turkey – coaster 5,000 m/t | $65.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $65.00 | Steady | |
Baltic Dry Index | 1721 | Down 198 | |
Baltic Capesize Index | 2172 | Down 667 | |
Baltic Panamax Index | 1916 | Down 38 | |
Baltic Supramax Index | 1394 | Up 101 | |
Baltic Handisize Index | 722 | Up 29 | |
Global Container Index - Freightos | 2498 | Down 115 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR April 2024/June 2024
Wheat, USA Soft Red Winter, US Gulf | USD 245<<250 July | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 280<<285 July | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 190>>185 July | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 214>>210 July | |
Wheat, Romania 12.5 pro | USD 225<<230 July | |
Wheat, Superior, France, Rouen | USD 227/230 Spot | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 250>>240 July | |
Wheat, feed, Black Sea | USD 190/200 | |
Barley, France, Rouen port | USD 213/217 | |
Barley, feed, Argentina, upriver | USD 200/205 | |
Barley, feed, Black Sea, 30,000+ | USD 180/185 | |
Barley, feed, Australia | USD 240/245 | |
Corn, 2YC FOB NOLA USA | USD 195<<200 July | |
Corn, 3YC FOB USA Pacific northwest | USD 220<<225 July | |
Corn, FOB Argentina port, upriver | USD 200>>190 July | |
Corn, FOB Brazil port | USD 210>>200 July | |
Corn, FOB France – Atlantic | USD 228<<235 July | |
Corn, FOB Romania | USD 195<<200 July | |
Corn, FOB Russia | USD 185<<190 July | |
Corn, FOB Ukraine, 30,000+ m/t | USD 185<<190 July | |
Sorghum, FOB Argentina port | USD 265/275 | |
Sorghum, FOB Texas | USD 250<<254 July | |
Soymeal, 48% protein, FOB NOLA | USD 400<<405 July | |
Soymeal, 48% protein, USA, Rotterdam | USD 430<<435 July | |
Soymeal, 47% pro, FOB Argentina | USD 390<<395 July | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 435/440 | |
Soymeal, 48% protein, FOB Brazil | USD 380<<385 July | |
Soybeans, FOB NOLA | USD 445<<450 July | |
Soybeans, Argentina, FOB | USD 430<<435 July | |
Soybeans, Brazil, FOB | USD 435<<445 July | |
Soybeans, Black Sea | USD 445<<450 July | |
Corn Gluten Meal, USA FOB NOLA | USD 560/570 | |
Corn Gluten Feed, USA FOB NOLA | USD 210/215 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 200/210 | |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Total catch up to the 24th stands at 457,000 m/t --- about 102,000 m/t of fishmeal and 12,000 m/t of fishoil.
The catch is good so far but the juvenile level is high, at an average of 60%, which will result in fishing bans in some areas. Chimbote, which is the main fishing area, has juvenile levels as high as 62%.
According to trade reports, there was quite a bit of business done at the IFFO meeting in Miami last week with top grade fishmeal down by about USD 100 m/t while lower grades were steady --- the spread from super prime to standard narrowed quite a bit. It is reported that a total of close to 300,000 m/t of fishmeal has been booked from this quota so far.
Peru’s fishmeal exports for January to March 2024 were at 266,000 MT with 96.72% going to Asia. The 2024 export numbers are down by 120,000 m/t from 2023 due to the reduced catch. For Jan/March China imported 44.4% of its fishmeal from Peru with 11% each from Vietnam and Russian and 7% each from Chile and Thailand. China’s total imports of 366,000 m/t in Jan/Mar came from 21 different origins.
Everyone in the industry is hoping that the good catch will continue and that Peru will be able to begin to recover from the very bad year seen in 2023. An article in one of the trade magazines said that it could take as long as 5 years for Peru’s fishmeal industry to fully recover.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,710 |
Danish standard fishmeal | 71% protein | 1,890 |
Peru fishmeal | 65% protein | 1,710 |
Chile fishmeal | 66% protein | 1,740 |
Iceland fishmeal | 71% protein | 1,845 |
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 | 1620/1640 | |
67% protein 120 TVN | 1700/1720 | 1700/1720 |
67% protein 1000 hist, 120 TVN | 1750/1770 | 1750/1770 |
68% protein 500 hist, 100 TVN | 1800/1820 | 1800/1820 |
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
