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Email: wbacon@hammersmith.biz
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WEEKLY USA GRAIN AND PROTEIN REPORT April 06, 2024
The weather for US corn and soybean planting was good with drier weather seem in most areas. Argentina corn production estimates were lowered a little due to some insect problems. There were some concerns seen about avian flu in dairy cattle that could reduce corn demand, but it is too early to know.
There is not much that the weather can do to the Argentina/Brazil soybean crops with Brazilian harvest and Argentina getting close to harvest. Only the USA soybean crop – which isn’t in the ground yet – could face weather problems.
As usual wheat prices tend to follow world market prices when there are no weather problems in the US. EU prices moved higher on possible weather relate wheat crop damage while Black Sea wheat moved higher on shipment delays. Most experts feel that wheat prices will continue to be soft or will move in a trading range until the next major wheat supply news is seen.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $28.00 | Down $2.00 | |
$28.00 | Down $2.00 | ||
US Gulf Israel: Panamax m/t | $26.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $26.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $27.00 | Down $1.00 | |
US Gulf Morocco: Handi | $40.00 | Down $1.00 | |
US Gulf Algeria/Tunisia: Handi | $41.00 | Down $1.00 | |
$36.00 | Steady | ||
US Gulf other Med: Handi | $42.00 | Down $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 | $53.00 | Down $1.00 | |
US Gulf China: Panamax | $52.00 | Down $1.00 | |
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 | $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 | $51.00 | ||
US Lakes – Morocco – 30,000 m/t | $56.00 | ||
France/Germany to Algeria: Handi | $32.00 | Steady | |
France/Germany to China: Panamax | $73.00 | Steady | |
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 | $52.00 | Down $2.00 | |
Argentina to Japan: Panamax | $53.00 | Down $2.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $26.00 | Down $3.00 | |
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 | $58.00 | Steady | |
Argentina to South Africa: Panamax | $35.00 | Steady | |
Argentina to Kenya: Handi | $57.00 | Steady | |
Argentina to Spain: Panamax | $26.00 | Down $3.00 | |
Argentina to Tunisia: Handi | $62.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $50.00 | Steady | |
Brazil to China: Panamax | $48.00 | Down $2.00 | |
Brazil to Japan: Panamax | $49.00 | Down $2.00 | |
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 | $56.00 | Up $1.00 | |
Australia to Europe: Panamax | $65.00 | Up $1.00 | |
Black Sea freight | |||
Black Sea to China: Panamax | $65 Russia | Ukraine $64 | |
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 | $24 Russia | Ukraine $28 | |
Black Sea to Iran: Panamax | $56 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $27 Russia | Ukraine $35 | |
Black Sea to Morocco – Handi | $32 Russia | Ukraine $40 | |
Black Sea to Tunisia/Algeria – Handi | $31 Russia | Ukraine $39 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $32 Russia | Ukraine $40 | |
Black Sea to Saudi: Panamax | $48 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 | Steady | |
Russia to Egypt – coaster 5,000 m/t | $66.00 | Steady | |
Ukraine to Turkey – coaster 5,000 m/t | $65.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $65.00 | Steady | |
Baltic Dry Index | 1628 | Down 193 | |
Baltic Capesize Index | 2274 | Down 363 | |
Baltic Panamax Index | 1695 | Down 184 | |
Baltic Supramax Index | 1261 | Down 70 | |
Baltic Handisize Index | 735 | Down 37 | |
Global Container Index - Freightos | 2462 | Down 254 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR April 2024/June 2024
Wheat, USA Soft Red Winter, US Gulf | USD 229<<232 July | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 260>>250 July | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 195>>190 July | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 212>>205 July | |
Wheat, Romania 12.5 pro | USD 215<<220 July | |
Wheat, Superior, France, Rouen | USD 220/223 Spot | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 225<<230 July | |
Wheat, feed, Black Sea | USD 180/190 | |
Barley, France, Rouen port | USD 210/215 | |
Barley, feed, Argentina, upriver | USD 190/195 | |
Barley, feed, Black Sea, 30,000+ | USD 175/180 | |
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 185>>190 July | |
Corn, FOB Brazil port | USD 195<<200 July | |
Corn, FOB France – Atlantic | USD 213<<218 July | |
Corn, FOB Romania | USD 195<<200 July | |
Corn, FOB Russia | USD 180<<185 July | |
Corn, FOB Ukraine, 30,000+ m/t | USD 175<<180 July | |
Sorghum, FOB Argentina port | USD 280/290 | |
Sorghum, FOB Texas | USD 257>>250 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 375>>370 July | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 410/415 | |
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 435>>445 July | |
Soybeans, Black Sea | USD 425<<430 July | |
Corn Gluten Meal, USA FOB NOLA | USD 520/530 | |
Corn Gluten Feed, USA FOB NOLA | USD 210/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 215/220 | |
Corn gluten meal and DDGS prices were lower this week which created some good export buying opportunities. It has taken quite a while for CGM prices to move lower – perhaps some of the drop is due to the lower level of fishmeal prices seen this week.
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Discussions in Peru are still all about the upcoming quota with the “expert” estimates ranging from 2.0 million m/t to 3.0 mm/t with fishing beginning in mid-April.
Fishmeal prices everywhere are down this week by USD 50 to 100 m/t depending on the grade. Chinese buyers are back in the market and producers seem to be willing to book more lots at lower prices.
Presales in Peru are said to have now reached about 170,000 m/t.
April 15 to 17 is the IFFO members’ meeting in Miami, Florida
June 4 to 7 is the European Fishmeal (EFFOP) meeting in Estonia.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,700 |
Danish standard fishmeal | 71% protein | 1,880 |
Peru fishmeal | 65% protein | 1,825 |
Chile fishmeal | 66% protein | 1,875 |
Iceland fishmeal | 71% protein | 1,825 |
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 | 1720/1740 |
67% protein 1000 hist, 120 TVN | 1800/1820 | 1850/1870 |
68% protein 500 hist, 100 TVN | 1900/1920 | 1930/1950 |
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
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