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WEEKLY USA GRAIN AND PROTEIN REPORT -- JULY 06, 2024
Soybeans were up again this week while corn prices did drift lower and wheat tried to rally higher. The market was quiet due to the holiday and in anticipation of next week’s USDA WASDE report on Friday.
There are really very few comments at the end of the week about the US grain and oilseed business --- all was just too quiet this week.
So, not much to say this week --- more next week after the WASDE.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$26.00 | Down $1.00 | ||
$26.00 | Down $1.00 | ||
US Gulf Israel: Panamax m/t | $29.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $29.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $30.00 | Down $1.00 | |
US Gulf Morocco: Handi | $46.00 | Up $2.00 | |
US Gulf Algeria/Tunisia: Handi | $47.00 | Up $2.00 | |
$35.00 | Up $3.00 | ||
US Gulf other Med: Handi | $48.00 | 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 | $52.00 | Down $1.00 | |
US Gulf China: Panamax | $51.00 | 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 | Steady | |
US PNW China: Panamax | $26.00 | Steady | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $54.00 | Down $1.00 | |
US Lakes – Morocco – 30,000 m/t | $60.00 | Down $1.00 | |
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 | $51.00 | Down $1.00 | |
Argentina to Japan: Panamax | $52.00 | Down $1.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $37.00 | 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 | $37.00 | Steady | |
Argentina to Tunisia: Handi | $49.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $43.00 | Steady | |
Brazil to China: Panamax | $47.00 | Up $1.00 | |
Brazil to Japan: Panamax | $48.00 | Up $1.00 | |
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 | $64.00 | Up $1.00 | |
Australia to Europe: Panamax | $73.00 | 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 | $56 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 | $48 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $35 | |
Black Sea to Morocco – Handi | $28 Russia | Ukraine $41 | |
Black Sea to Tunisia/Algeria – Handi | $27 Russia | Ukraine $40 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $28 Russia | Ukraine $41 | |
Black Sea to Saudi: Panamax | $47 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 | $16.00 | Down $3.00 | |
Russia to Egypt – coaster 5,000 m/t | $49.00 | Steady | |
Ukraine to Turkey – coaster 5,000 m/t | $59.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $46.00 | Down $4.00 | |
Baltic Dry Index | 1966 | Down 84 | |
Baltic Capesize Index | 3339 | Down 4 | |
Baltic Panamax Index | 1546 | Down 121 | |
Baltic Supramax Index | 1335 | Down 50 | |
Baltic Handisize Index | 763 | Down 21 | |
Global Container Index - Freightos | 5022 | Up 514 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2024/September 2024
Wheat, USA Soft Red Winter, US Gulf | USD 235<<245 Oct | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 250<<280 Oct | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 210<<215 Oct | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 220<<225 Oct | |
Wheat, Romania 12.5 pro | USD 230<<235 Oct | |
Wheat, Superior, France, Rouen | USD 240<<245 Oct | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 265>>255 Oct | |
Wheat, feed, Black Sea | USD 210/220 | |
Barley, France, Rouen port | USD 215/220 | |
Barley, feed, Argentina, upriver | USD 220/225 | |
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 215<<220 Oct | |
Corn, FOB Argentina port, upriver | USD 185>>175 Oct | |
Corn, FOB Brazil port | USD 195<<200 Oct | |
Corn, FOB France – Atlantic | USD 238-241 Spot | |
Corn, FOB Romania | USD 195<<200 Oct | |
Corn, FOB Russia | USD 195<<200 Oct | |
Corn, FOB Ukraine, 30,000+ m/t | USD 185<<190 Oct | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 238<<243 Oct | |
Soymeal, 48% protein, FOB NOLA | USD 440>>400 Oct | |
Soymeal, 48% protein, USA, Rotterdam | USD 470>>430 Oct | |
Soymeal, 47% pro, FOB Argentina | USD 380>>375 Oct | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 435/440 | |
Soymeal, 48% protein, FOB Brazil | USD 380>>375 Oct | |
Soybeans, FOB NOLA | USD 455>>440 Oct | |
Soybeans, Argentina, FOB | USD 440<<445 Oct | |
Soybeans, Brazil, FOB | USD 445<<455 Oct | |
Soybeans, Black Sea | USD 445<<450 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 220/225 | |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The first few days of fishing in the South of Peru, on the new 251,000 m/t quota, showed a catch of only about 2,000 m/t with very, very few vessels fishing. The old quota finished off with a catch of 31,000 m/t producing about 7,300 m/t of fishmeal --- 220,000 m/t was left on the quota at expiry.
With very little fishmeal left to sell in Peru it is difficult to get an accurate idea of prices. Looking at trade reports at the end of the week it looks like prices could have moved a little lower but it is very difficult to know for sure as so little is happening.
Trade estimates are that there is no more than 30,000 m/t of unsold Peruvian fishmeal --- not much at all and all lower grades and odd lots.
Hopes are that the South region fishing will be busy for the next 2 or 3 months giving traders and producers something to sell.
The trade has already started speculating on the next North/Central fishing quota later in 2024 --- most seem to feel that 1.7 million m/t could be a good minimum level for the next quota. We just have to wait and see --- for a few weeks, at least until October.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,750 |
Danish standard fishmeal | 71% protein | 1,920 |
Peru fishmeal | 65% protein | 1,650 |
Chile fishmeal | 66% protein | 1,680 |
Iceland fishmeal | 71% protein | 1,925 |
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 | 1500/1520 | |
67% protein 150 TVN | 1550/1570 | |
67n% protein 120 TVN | 1600/1620 | 1620/1640 |
67% protein 1000 hist, 120 TVN | 1650/1670 | 1670/1690 |
68% protein 500 hist, 100 TVN | 1800/180 | 1800/1820 |
Fish oil, crude bulk | 5,500 | 5,000/5,300 |
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 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
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