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Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
WEEKLY USA GRAIN AND PROTEIN REPORT -- JUNE 22, 2024
US wheat prices have been pushed lower by harvest pressure and large world supplies. Although there have been stories of problems with wheat crops in Russia and parts of the EU, the world wheat supply is still at very high levels and all the investment bulls seem to be leaving the wheat market which is allowing wheat prices to slide lower.
US soybean futures prices are at the lowest level in three months as concerns about South American soybean crops seem to be over. While there was flood damage in Brazil is doesn’t appear to have been as bad as thought.
US corn prices were lower on thoughts of large world corn supplies from exporting countries and on lower than expected corn export sales for the week. Although to some countries, like Spain, US corn exports are booming as US corn has become very competitive in some export markets. Sales to Spain are up to 220,000 m/t compared to nothing last year at this time.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $29.00 | Up $3.00 | |
$29.00 | Up $3.00 | ||
US Gulf Israel: Panamax m/t | $31.00 | Up $4.00 | |
US Gulf to Egypt: Panamax | $31.00 | Up $4.00 | |
US Gulf Turkey: Panamax m/t | $32.00 | Up $4.00 | |
US Gulf Morocco: Handi | $42.00 | Up $3.00 | |
US Gulf Algeria/Tunisia: Handi | $43.00 | Up $3.00 | |
$32.00 | Up $1.00 | ||
US Gulf other Med: Handi | $44.00 | Up $3.00 | |
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 | $54.00 | Up $4.00 | |
US Gulf China: Panamax | $53.00 | Up $4.00 | |
US PNW Egypt: Panamax via Panama | $51.00 | 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 | $28.00 | Up $1.00 | |
US PNW China: Panamax | $27.00 | Up $1.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $51.00 | Up $3.00 | |
US Lakes – Morocco – 30,000 m/t | $57.00 | Up $3.00 | |
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 | $54.00 | Up $3.00 | |
Argentina to Japan: Panamax | $55.00 | Up $3.00 | |
Argentina to Egypt: Panamax | $53.00 | Up $1.00 | |
Argentina to Europe: Panamax | $26.00 | Steady | |
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 | $26.00 | Steady | |
Argentina to Tunisia: Handi | $49.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $43.00 | Steady | |
Brazil to China: Panamax | $48.00 | Steady | |
Brazil to Japan: Panamax | $49.00 | Steady | |
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 $51 | |
Black Sea to Indonesia: Panamax | $54 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $16 Russia | Ukraine $24 | |
Black Sea to Egypt: 30,000 | $16 Russia | Ukraine $27 | |
Black Sea to Iran: Panamax | $45 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $36 | |
Black Sea to Morocco – Handi | $23 Russia | Ukraine $41 | |
Black Sea to Tunisia/Algeria – Handi | $22 Russia | Ukraine $40 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $23 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 | $18.00 | Down $1.00 | |
Russia to Egypt – coaster 5,000 m/t | $40.00 | Down $9.00 | |
Ukraine to Turkey – coaster 5,000 m/t | $59.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $50.00 | Down $4.00 | |
Baltic Dry Index | 1977 | Up 29 | |
Baltic Capesize Index | 3142 | Up 185 | |
Baltic Panamax Index | 1827 | Down 123 | |
Baltic Supramax Index | 1398 | Up 63 | |
Baltic Handisize Index | 753 | Up 42 | |
Global Container Index - Freightos | 4446 | Up 329 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2024/September 2024
Wheat, USA Soft Red Winter, US Gulf | USD 225<<245 Oct | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 255<<265 Oct | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 220<<225 Oct | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 230<<235 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 280>>270 Oct | |
Wheat, feed, Black Sea | USD 220/230 | |
Barley, France, Rouen port | USD 212/215 | |
Barley, feed, Argentina, upriver | USD 225/230 | |
Barley, feed, Black Sea, 30,000+ | USD 175/180 | |
Barley, feed, Australia | USD 255/260 | |
Corn, 2YC FOB NOLA USA | USD 195<<200 Oct | |
Corn, 3YC FOB USA Pacific northwest | USD 220<<225 Oct | |
Corn, FOB Argentina port, upriver | USD 185<<190 Oct | |
Corn, FOB Brazil port | USD 195<<200 Oct | |
Corn, FOB France – Atlantic | USD 225-228 Spot | |
Corn, FOB Romania | USD 195<<200 Oct | |
Corn, FOB Russia | USD 195<<200 Oct | |
Corn, FOB Ukraine, 30,000+ m/t | USD 190<<195 Oct | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 250<<255 Oct | |
Soymeal, 48% protein, FOB NOLA | USD 430>>415 Oct | |
Soymeal, 48% protein, USA, Rotterdam | USD 460>>445 Oct | |
Soymeal, 47% pro, FOB Argentina | USD 400>>395 Oct | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 470/475 | |
Soymeal, 48% protein, FOB Brazil | USD 390>>385 Oct | |
Soybeans, FOB NOLA | USD 445>>440 Oct | |
Soybeans, Argentina, FOB | USD 440>>435 Oct | |
Soybeans, Brazil, FOB | USD 445>>435 Oct | |
Soybeans, Black Sea | USD 455<<440 Oct | |
Corn Gluten Meal, USA FOB NOLA | USD 550/560 | |
Corn Gluten Feed, USA FOB NOLA | USD 215/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 220/225 | |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The North/Central fishing quota in Peru is certainly going to be completed as there are only a few thousand tons to go. What a great year so far. In the South region the catch is up a little to a total of just under 17,000 m/t --- the South fishing season ends on June 30 so no hope that this quota will be filled --- quota still has 234,000 m/t available.
Trade estimates show about 480,000 m/t of fishmeal sold from North/Central which is said to leave about 85,000 m/t to sell – but all said to be lower grades. Several thousand tons of fishmeal are also now available from the South region catch.
Fishmeal prices are steady and no one is expecting any drop in prices.
And, as it is every year, every ton of fishmeal produced will be sold.
China is reported to have imported 686,000 m/t of fishmeal in January to May with 271,000 m/t coming from Peru and 67,000 m/t from Chile.
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 | 1,900 |
Peru fishmeal | 65% protein | 1,660 |
Chile fishmeal | 66% protein | 1,690 |
Iceland fishmeal | 71% protein | 1,900 |
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 | 1700/1720 | 1700/1720 |
67% protein 1000 hist, 120 TVN | 1750/1770 | 1750/1770 |
68% protein 500 hist, 100 TVN | 1900/1920 | 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
The information contained herein is based on sources that we believe to be dependable, but we do not represent that it is accurate or complete. Nothing contained herein should be considered as an offer to sell or a solicitation of an offer to buy. All references to prices are subject to change without notice. Any opinions expressed herein are solely those of the author.
Copyright © 2024 Wayne
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