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Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
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WEEKLY USA GRAIN AND PROTEIN REPORT -- JULY 20, 2024
While US wheat prices did drop on the week, they had a strong Friday as the long term weather forecast looks hot a dry for the spring wheat areas. Winter wheat is more affected by international event as the winter wheat season is over in the US.
USA corn prices tried to move higher on the hot/dry weather reports but didn’t have too much luck as there is also widespread rainfall expected in the Corn Belt and the temperatures look to be about normal. The USDA export sales report shows good volume of US corn going to both Spain and Portugal as US corn is once again competitive in export markets that have depended on Brazil and Ukraine.
Like corn, US soybeans are also very competitive in export markets and as US prices seem determined to slide lower then US soybeans should remain very competitive. On the weather side of things --- US weather for soybeans for the next while remains good with nothing noted that should get farmers worried.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$27.00 | Up $2.00 | ||
$27.00 | Up $2.00 | ||
US Gulf Israel: Panamax m/t | $33.00 | Steady | |
US Gulf to Egypt: Panamax | $33.00 | Steady | |
US Gulf Turkey: Panamax m/t | $34.00 | Steady | |
US Gulf Morocco: Handi | $48.00 | Up $2.00 | |
US Gulf Algeria/Tunisia: Handi | $49.00 | Up $2.00 | |
$37.00 | Up $1.00 | ||
US Gulf other Med: Handi | $50.00 | 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 | $54.00 | Up $3.00 | |
US Gulf China: Panamax | $53.00 | Up $3.00 | |
US PNW Egypt: Panamax via Panama | $51.00 | Steady | |
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 $2.00 | |
US PNW China: Panamax | $27.00 | Up $2.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $55.00 | Up $1.00 | |
US Lakes – Morocco – 30,000 m/t | $61.00 | Up $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 | $40.00 | 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 | $36.00 | Steady | |
France/Germany to Yemen: Handi | $66.00 | Steady | |
Argentina to Algeria: Handi | $46.00 | Steady | |
Argentina to China: Panamax | $53.00 | Up $3.00 | |
Argentina to Japan: Panamax | $4.00 | Up $3.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $37.00 | Steady | |
Argentina to Morocco: Handi | $45.00 | Steady | |
Argentina to Libya: Handi | $46.00 | 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 | $46.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $43.00 | Steady | |
Brazil to China: Panamax | $46.00 | Steady | |
Brazil to Japan: Panamax | $47.00 | 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 | $65.00 | Steady | |
Australia to Europe: Panamax | $74.00 | 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 | $56 Russia | Ukraine $54 | |
Black Sea to Indonesia: Panamax | $60 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $17 Russia | Ukraine $26 | |
Black Sea to Egypt: 30,000 | $18 Russia | Ukraine $27 | |
Black Sea to Iran: Panamax | $47 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $26 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 | $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 | $18.00 | Steady | |
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 | $41.00 | Down $2.00 | |
Baltic Dry Index | 1902 | Down 95 | |
Baltic Capesize Index | 2973 | Down 323 | |
Baltic Panamax Index | 1714 | Up 36 | |
Baltic Supramax Index | 1374 | Up 10 | |
Baltic Handisize Index | 752 | Up 11 | |
Global Container Index - Freightos | 5050 | Down 131 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR August 2024/October 2024
Wheat, USA Soft Red Winter, US Gulf | USD 216<<231 Oct | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 259<<271 Oct | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 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 235<<240 Oct | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 265>>255 Oct | |
Wheat, feed, Black Sea | USD 200/210 | |
Barley, France, Rouen port | USD 205/210 | |
Barley, feed, Argentina, upriver | USD 220/225 | |
Barley, feed, Black Sea, 30,000+ | USD 185/190 | |
Barley, feed, Australia | USD 245/250 | |
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 180<<185 Oct | |
Corn, FOB Brazil port | USD 190<<200 Oct | |
Corn, FOB France – Atlantic | USD 231-234 Spot | |
Corn, FOB Romania | USD 195>>190 Oct | |
Corn, FOB Russia | USD 195>>190 Oct | |
Corn, FOB Ukraine, 30,000+ m/t | USD 195>>190 Oct | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 235<<240 Oct | |
Soymeal, 48% protein, FOB NOLA | USD 400>>375 Oct | |
Soymeal, 48% protein, USA, Rotterdam | USD 430>>435 Oct | |
Soymeal, 47% pro, FOB Argentina | USD 365>>360 Oct | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 420/425 | |
Soymeal, 48% protein, FOB Brazil | USD 360>>355 Oct | |
Soybeans, FOB NOLA | USD 430>>410 Oct | |
Soybeans, Argentina, FOB | USD 415<<420 Oct | |
Soybeans, Brazil, FOB | USD 430<<435 Oct | |
Soybeans, Black Sea | USD 450>>425 Oct | |
Corn Gluten Meal, USA FOB NOLA | USD 550/560 | |
Corn Gluten Feed, USA FOB NOLA | USD 200/210 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 205/215 | |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Southern Peru fishing is now up to 27,800 m/t (6,200 m/t fishmeal) with just over 223,000 m/t left on the quota to December 31.
Not much going on in the fishmeal market in Peru with so little available for sale. Estimates for presales for the next fishing season remain at about 560,000 m/t. Prices are mainly steady with no new business being done. The Super Prime premium is reported to have dropped a little but with nothing to sell this really means nothing.
According to scientific reports there is very little chance of a serious El Nino or La Nina event in 2024. However, there could be a weak La Nina near the end of the year into 2025. No serious effect on the biomass or fishing is anticipated.
Peru will be closed on July 28 and 29 for the Independence Day holidays. Peru got its independence from Spain in 1821.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,735 |
Danish standard fishmeal | 71% protein | 2,060 |
Peru fishmeal | 65% protein | 1,640 |
Chile fishmeal | 66% protein | 1,670 |
Iceland fishmeal | 71% protein | 2,065 |
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 | 1770/1790 | 1750/1770 |
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 | 6,000/6,300 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
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