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WEEKLY USA GRAIN AND PROTEIN REPORT -- JUNE 29, 2024
Soybeans/soymeal has a quiet week even with the USDA planting estimate up by 3% over 2023 but still below the trade estimates of acreage. US Soybean stocks as of June 01 were seen as up 22% over 2023.
Wheat prices were slightly lower on the week even with planting acres down a little but the stocks levels for total wheat were up by 23% over 2023. Winter wheat’s current harvest yields are seen as higher than forecasted, which could add more downward pressure on prices.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $27.00 | Down $2.00 | |
$27.00 | Down $2.00 | ||
US Gulf Israel: Panamax m/t | $30.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $30.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $31.00 | Down $1.00 | |
US Gulf Morocco: Handi | $44.00 | Up $2.00 | |
US Gulf Algeria/Tunisia: Handi | $45.00 | Up $2.00 | |
$32.00 | Steady | ||
US Gulf other Med: Handi | $46.00 | Up $2.00 | |
US Gulf South Africa: Handi | $41.00 | Steady | |
US Gulf India : Panamax | $52.00 | 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 | $52.00 | Up $1.00 | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $34.00 | 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 | $55.00 | Up $4.00 | |
US Lakes – Morocco – 30,000 m/t | $61.00 | Up $4.00 | |
France/Germany to Algeria: Handi | $32.00 | Steady | |
France/Germany to China: Panamax | $70.00 | Steady | |
France/Germany to Egypt: Panamax | $34.00 | Steady | |
France/Germany to Iran: Panamax | $41.00 | 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 | $49.00 | 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 | $37.00 | Adjusted | |
Argentina to Morocco: Handi | $48.00 | Steady | |
Argentina to Libya: Handi | $49.00 | 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 | $37.00 | Adjusted | |
Argentina to Tunisia: Handi | $49.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $43.00 | Steady | |
Brazil to China: Panamax | $46.00 | Down $2.00 | |
Brazil to Japan: Panamax | $47.00 | Down $2.00 | |
Brazil to South Korea: Panamax | $48.00 | Steady | |
Brazil to Europe: Panamax | $39.00 | Steady | |
Brazil to Morocco: Handi | $42.00 | 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 | $63.00 | Steady | |
Australia to Europe: Panamax | $72.00 | Steady | |
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 | $57 Russia | Ukraine $54 | |
Black Sea to Indonesia: Panamax | $60 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $16 Russia | Ukraine $24 | |
Black Sea to Egypt: 30,000 | $17 Russia | Ukraine $27 | |
Black Sea to Iran: Panamax | $45 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $35 | |
Black Sea to Morocco – Handi | $26 Russia | Ukraine $41 | |
Black Sea to Tunisia/Algeria – Handi | $25 Russia | Ukraine $40 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $26 Russia | Ukraine $41 | |
Black Sea to Saudi: Panamax | $46 Russia | Ukraine $70 | |
Black Sea to Turkey – Handi | $19 Russia | Ukraine $26 | |
Black Sea to South Africa – Handi | $55 Russia | ||
Russia to Turkey (Izmir)– coaster 5,000 m/t | $19.00 | Up $1.00 | |
Russia to Egypt – coaster 5,000 m/t | $49.00 | Up $9.00 | |
Ukraine to Turkey – coaster 5,000 m/t | $59.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $50.00 | Steady | |
Baltic Dry Index | 2050 | Up 73 | |
Baltic Capesize Index | 3343 | Up 301 | |
Baltic Panamax Index | 1667 | Down 160 | |
Baltic Supramax Index | 1385 | Down 13 | |
Baltic Handisize Index | 763 | Up 10 | |
Global Container Index - Freightos | 4508 | Up 62 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2024/September 2024
Wheat, USA Soft Red Winter, US Gulf | USD 229<<245 Oct | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 261<<284 Oct | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 Oct | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 223<<228 Oct | |
Wheat, Romania 12.5 pro | USD 230<<235 Oct | |
Wheat, Superior, France, Rouen | USD 235<<240 Oct | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 270>>265 Oct | |
Wheat, feed, Black Sea | USD 210/220 | |
Barley, France, Rouen port | USD 215/220 | |
Barley, feed, Argentina, upriver | USD 225/230 | |
Barley, feed, Black Sea, 30,000+ | USD 175/180 | |
Barley, feed, Australia | USD 250/255 | |
Corn, 2YC FOB NOLA USA | USD 185<<190 Oct | |
Corn, 3YC FOB USA Pacific northwest | USD 210<<215 Oct | |
Corn, FOB Argentina port, upriver | USD 175<<185 Oct | |
Corn, FOB Brazil port | USD 180<<190 Oct | |
Corn, FOB France – Atlantic | USD 220-223 Spot | |
Corn, FOB Romania | USD 200<<205 Oct | |
Corn, FOB Russia | USD 195<<200 Oct | |
Corn, FOB Ukraine, 30,000+ m/t | USD 195<<200 Oct | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 240<<245 Oct | |
Soymeal, 48% protein, FOB NOLA | USD 430>>405 Oct | |
Soymeal, 48% protein, USA, Rotterdam | USD 460>>435 Oct | |
Soymeal, 47% pro, FOB Argentina | USD 400>>375 Oct | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 460/465 | |
Soymeal, 48% protein, FOB Brazil | USD 385>>375 Oct | |
Soybeans, FOB NOLA | USD 440>>435 Oct | |
Soybeans, Argentina, FOB | USD 440>>435 Oct | |
Soybeans, Brazil, FOB | USD 445>>440 Oct | |
Soybeans, Black Sea | USD 455<<435 Oct | |
Corn Gluten Meal, USA FOB NOLA | USD 570/580 | |
Corn Gluten Feed, USA FOB NOLA | USD 215/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 225/230 | |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The first 2024 Southern Peru fishing season has a catch to date of 31,000 m/t with a quota of 251,000 m/t, this season ends this week. The quota for the second southern season has been announced at 251,000 m/t and begins July 01 running to December 31. Recent catch levels have been at about 7,000 m/t per week with 30 or fewer vessels out.
The North/Central fishing can run until the 30th of June and is now up to 2,430,000 m/t.
Sales against the recent North/Central catch are now reported by the trade to be close to 500,000 m/t, which would leave about 65 to 75,000 m/t unsold – all of lower grades.
There is now a great deal of speculation on what the next North/Central quota will be --- talk is about 1.7 million m/t to 2.0 million m/t perhaps starting in September/October, but all just guess work so far.
Peru’s fishmeal exports for 2024, to the end of May 2024, stand at 343,000 m/t with 305,000 m/t going to China with another 25,000 m/t going to other Asian destinations.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,725 |
Danish standard fishmeal | 71% protein | 1,925 |
Peru fishmeal | 65% protein | 1,645 |
Chile fishmeal | 66% protein | 1,675 |
Iceland fishmeal | 71% protein | 1,935 |
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 | 1600/1620 | |
67n% protein 120 TVN | 1650/1670 | 1700/1720 |
67% protein 1000 hist, 120 TVN | 1700/1720 | 1750/1770 |
68% protein 500 hist, 100 TVN | 1850/1870 | 1800/1820 |
Fish oil, crude bulk | 5,500 | 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 | 6,500/7,000 | No prices |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
