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WEEKLY USA GRAIN AND PROTEIN REPORT -- August 31, 2024
September 01 is a holiday in the USA for Labor Day --- CBOT/CME and businesses are closed.
USA corn prices moved up by about USD 4 m/t this week with soybeans up by USD 10 m/t and soymeal up around USD 8 m/t. Wheat was strong this week with SRW wheat up by about USD 10 m/t, HRW up by USD 12 m/t and Spring wheat actually dropping by almost USD 10 m/t.
Corn prices seemed to move higher on export sales that were above trade estimates for the week. Corn prices have dropped by close to USD 40 m/t since May 2024 and experts and farmers are now looking hopefully at corn prices moving higher in coming days but that might not be too possible with the harvest looming not too far in the future. Of course, big parts of the US corn belt are still seeing hot dry weather which can be a major bullish factor for prices.
USA soybean price too seemed to be moved higher by new export sales. This week’s exports were about 40% higher than the recent 4 week export average --- certainly a wee bit bullish. Experts feel that next week’s crush report will show the crush up by 4.6%. Experts seem to feel that soybean prices can easily continue to move higher.
Wheat export sales also helped to move prices higher for winter wheat as weekly export numbers are up by 20% over the recent 4 week average. The EU lowered its wheat crop estimate this week while Russian analysts lowered the Russia wheat crop estimate a little. Spring wheat prices were lower on the good weather seen in the wheat growing area.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$24.00 | Down $1.00 | ||
$24.00 | Down $1.00 | ||
US Gulf Israel: Panamax m/t | $32.00 | Up $1.00 | |
US Gulf to Egypt: Panamax | $32.00 | Up $1.00 | |
US Gulf Turkey: Panamax m/t | $33.00 | Up $1.00 | |
US Gulf Morocco: Handi | $49.00 | Steady | |
US Gulf Algeria/Tunisia: Handi | $50.00 | Steady | |
$38.00 | Steady | ||
US Gulf other Med: Handi | $51.00 | Steady | |
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 | $49.00 | Down $1.00 | |
US Gulf China: Panamax | $48.00 | Down $1.00 | |
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 | $26.00 | Down $1.00 | |
US PNW China: Panamax | $25.00 | Down $1.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $57.00 | Up $2.00 | |
US Lakes – Morocco – 30,000 m/t | $63.00 | Up $2.00 | |
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 | Down $1.00 | |
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 | $34.00 | Steady | |
France/Germany to Yemen: Handi | $66.00 | Steady | |
Argentina to Algeria: Handi | $46.00 | Steady | |
Argentina to China: Panamax | $48.00 | Down $2.00 | |
Argentina to Japan: Panamax | $49.00 | Down $2.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $34.00 | Down $1.00 | |
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 | $34.00 | Down $1.00 | |
Argentina to Tunisia: Handi | $46.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $40.00 | Down $3.00 | |
Brazil to China: Panamax | $42.00 | Steady | |
Brazil to Japan: Panamax | $43.00 | Steady | |
Brazil to South Korea: Panamax | $48.00 | Steady | |
Brazil to Europe: Panamax | $39.00 | Steady | |
Brazil to Morocco: Handi | $39.00 | Down $3.00 | |
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 | $43.00 | Steady | |
Australia to Europe: Panamax | $54.00 | 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 | $53 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $19 Russia | Ukraine $28 | |
Black Sea to Egypt: 30,000 | $18 Russia | Ukraine $28 | |
Black Sea to Iran: Panamax | $48 Russia | Ukraine $61 | |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $34 | |
Black Sea to Morocco – Handi | $31 Russia | Ukraine $41 | |
Black Sea to Tunisia/Algeria – Handi | $30 Russia | Ukraine $40 | |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $52 | |
Black Sea to Libya – Handi | $31 Russia | Ukraine $41 | |
Black Sea to Saudi: Panamax | $47 Russia | Ukraine $70 | |
Black Sea to Turkey – Handi | $19 Russia | Ukraine $25 | |
Black Sea to South Africa – Handi | $55 Russia | ||
Black Sea to Nigeria – Handi | Ukraine $46 | ||
Russia to Turkey (Izmir)– coaster 5,000 m/t | $27.00 | Steady | |
Russia to Egypt – coaster 5,000 m/t | $46.00 | Up $1.00 | |
Ukraine to Turkey – coaster 5,000 m/t | No info | | |
Ukraine to Egypt – coaster 5,000 m/t | $46.00 | Steady | |
Baltic Dry Index | 1814 | Up 52 | |
Baltic Capesize Index | 3099 | Up 248 | |
Baltic Panamax Index | 1316 | Down 98 | |
Baltic Supramax Index | 1306 | Down 12 | |
Baltic Handisize Index | 744 | Down 9 | |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR September 2024/November 2024
Wheat, USA Soft Red Winter, US Gulf | USD 232<<241 Nov | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 260<<23 Nov | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 210<<215 Nov | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 215<<220 Nov | |
Wheat, Romania 12.5 pro | USD 225<<230 Nov | |
Wheat, Superior, France | USD 235<<240 Nov | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 270>>250 Nov | |
Wheat, feed, Black Sea | USD 200/205 | |
Barley, France, Rouen port | USD 200/205 | |
Barley, feed, Argentina, upriver | USD 205/210 | |
Barley, feed, Black Sea, 30,000+ | USD 190/195 | |
Barley, feed, Australia | USD 235/240 | |
Corn, 2YC FOB NOLA USA | USD 185<<195 Nov | |
Corn, 3YC FOB USA Pacific northwest | USD 205<<215 Nov | |
Corn, FOB Argentina port, upriver | USD 190<<195 Nov | |
Corn, FOB Brazil port | USD 190<<200 Nov | |
Corn, FOB France | USD 226/229 Spot | |
Corn, FOB Romania | USD 195>>190 Nov | |
Corn, FOB Russia | USD 105<<200 Nov | |
Corn, FOB Ukraine, 30,000+ m/t | USD 200>>195 Nov | |
Sorghum, FOB Argentina port | USD 250/260 | |
Sorghum, FOB Texas | USD 225<<235 Nov | |
Soymeal, 48% protein, FOB NOLA | USD 400<<405 Nov | |
Soymeal, 48% protein, USA, Rotterdam | USD 430>>435 Nov | |
Soymeal, 47% pro, FOB Argentina | USD 375>>370 Nov | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 440/445 spot | |
Soymeal, 48% protein, FOB Brazil | USD 370<<375 Nov | |
Soybeans, FOB NOLA | USD 400>>385 Nov | |
Soybeans, Argentina, FOB | USD 400<<410 Nov | |
Soybeans, Brazil, FOB | USD 420<<425 Nov | |
Soybeans, Black Sea | USD 420<<430 Nov | |
Corn Gluten Meal, USA FOB NOLA | USD 530/540 | |
Corn Gluten Feed, USA FOB NOLA | USD 210/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 210/220 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Still no new landings in the South zone of Peru --- available quota stands at 212,400 m/t.
The next IMARPE research cruise is now expected to begin on September 03 and run until about October 10.
According to MSI Ceres, Peru fishmeal exports for July reached 170,700 m/t which brings the total exports to the end of July to 683,600 m/t. 91.4% of fishmeal exports are to China with 96.94% of Peru fishmeal exports to all of Asia.
As usual, all is quiet in the Peru fishmeal business --- nothing to sell and nothing to buy.
Rumors continue that the next fishing quota could be over 2.0 million m/t rather than the 1.7 mm/t mentioned by the government fishery folks.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,720 |
Danish standard fishmeal | 71% protein | 2,145 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,740 |
Iceland fishmeal | 71% protein | 2,180 |
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 | 1450/1470 | |
67% protein 150 TVN | 1500/1520 | |
67n% protein 120 TVN | 1580/1600 | 1580/1600 |
67% protein 1000 hist, 120 TVN | 1630/1650 | 1630/1650 |
68% protein 500 hist, 100 TVN | 1700/1720 | 1730/1750 |
Fish oil, crude bulk | 4,800/5,000 | 3,300/3,500 |
Fish oil, crude drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | 5,500/6,000 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
