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WEEKLY USA GRAIN AND PROTEIN REPORT -- August 03, 2024
This was a down week for most every commodity as corn, wheat and soybeans hit their futures contract lows.
Soybeans were lower again this with USA old crop beans dropping by about USD 18 m/t while new crop beans were down by around USD 8 m/t --- the premium for old crop beans has almost all disappeared. Corn prices were down a dollar or two while soymeal didn’t change much and most types of wheat were up by about USD 5 m/t.
Corn prices in the USA did finish the week with a small rally on Friday as hot, dry weather for the weekend had the market a little worried. Trade reports at the end of the week all seem to feel that there is little reason to expect a run higher in US corn prices – lower corn prices are expected as we move toward the corn harvest.
Soybeans too had an up day on Friday but were still down on the week. New sales to China and hot, dry weather seemed to be the factors in Friday’s rally. Like corn, no one is expecting a rally in soybean prices in the near term. However, exports did say that the soymeal market could be trending higher on strong soymeal demand, both domestic and export.
USA wheat prices were up on the still active concern over spring wheat condition. Higher international market prices also gave a little push higher to US wheat as the wheat crop quality in France and Germany looks lower than average which could result in higher levels of feed wheat in Europe.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$29.00 | Up $1.00 | ||
$29.00 | Up $1.00 | ||
US Gulf Israel: Panamax m/t | $33.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $33.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $34.00 | Down $1.00 | |
US Gulf Morocco: Handi | $50.00 | Up $1.00 | |
US Gulf Algeria/Tunisia: Handi | $51.00 | Up $1.00 | |
$37.00 | Steady | ||
US Gulf other Med: Handi | $52.00 | Up $1.00 | |
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 | Steady | |
US Gulf China: Panamax | $53.00 | Steady | |
US PNW Egypt: Panamax via Panama | $52.00 | 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 | Down $1.00 | |
US PNW China: Panamax | $27.00 | Down $1.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $56.00 | Steady | |
US Lakes – Morocco – 30,000 m/t | $62.00 | Steady | |
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 | Steady | |
Argentina to Japan: Panamax | $54.00 | Steady | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $35.00 | 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 | $35.00 | Steady | |
Argentina to Tunisia: Handi | $46.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $43.00 | Steady | |
Brazil to China: Panamax | $45.00 | Steady | |
Brazil to Japan: Panamax | $46.00 | 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 | $66.00 | Steady | |
Australia to Europe: Panamax | $75.00 | 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 | $19 Russia | Ukraine $27 | |
Black Sea to Egypt: 30,000 | $19 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 | $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 $25 | |
Black Sea to South Africa – Handi | $55 Russia | ||
Russia to Turkey (Izmir)– coaster 5,000 m/t | $25.00 | Up $6.00 | |
Russia to Egypt – coaster 5,000 m/t | $40.00 | Up $3.00 | |
Ukraine to Turkey – coaster 5,000 m/t | $59.00 | Steady | |
Ukraine to Egypt – coaster 5,000 m/t | $40.00 | Steady | |
Baltic Dry Index | 1675 | Down 133 | |
Baltic Capesize Index | 2327 | Down 287 | |
Baltic Panamax Index | 1705 | Down 87 | |
Baltic Supramax Index | 1342 | Down 44 | |
Baltic Handisize Index | 759 | Up 000 | |
Global Container Index - Freightos | 4924 | Down 148 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR August 2024/October 2024
Wheat, USA Soft Red Winter, US Gulf | USD 218<<240 Nov | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 253<<269 Nov | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 220<<230 Nov | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 223<<230 Nov | |
Wheat, Romania 12.5 pro | USD 225<<235 Nov | |
Wheat, Superior, France, Rouen | USD 244<<247 Nov | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 275<<300 Nov | |
Wheat, feed, Black Sea | USD 210/220 | |
Barley, France, Rouen port | USD 210/215 | |
Barley, feed, Argentina, upriver | USD 215/220 | |
Barley, feed, Black Sea, 30,000+ | USD 185/190 | |
Barley, feed, Australia | USD 240/245 | |
Corn, 2YC FOB NOLA USA | USD 185<<190 Nov | |
Corn, 3YC FOB USA Pacific northwest | USD 210<<215 Nov | |
Corn, FOB Argentina port, upriver | USD 180<<185 Nov | |
Corn, FOB Brazil port | USD 185<<200 Nov | |
Corn, FOB France – Atlantic | USD 228-231 Spot | |
Corn, FOB Romania | USD 205<<210 Nov | |
Corn, FOB Russia | USD 195<<200 Nov | |
Corn, FOB Ukraine, 30,000+ m/t | USD 200<<205 Nov | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 254<<260 Nov | |
Soymeal, 48% protein, FOB NOLA | USD 415>>385 Nov | |
Soymeal, 48% protein, USA, Rotterdam | USD 445>>415 Nov | |
Soymeal, 47% pro, FOB Argentina | USD 385>>375 Nov | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 470/475 | |
Soymeal, 48% protein, FOB Brazil | USD 380>>365 Nov | |
Soybeans, FOB NOLA | USD 395>>400 Nov | |
Soybeans, Argentina, FOB | USD 400<<440 Nov | |
Soybeans, Brazil, FOB | USD 415<<430 Nov | |
Soybeans, Black Sea | USD 445<<450 Nov | |
Corn Gluten Meal, USA FOB NOLA | USD 550/560 | |
Corn Gluten Feed, USA FOB NOLA | USD 215/225 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 220/230 |
Corn coproduct prices were steady to a little lower this week --- corn gluten meal dropped a little while DDGS was steady to higher. The USDA announced this week that they will be able to replace the word “gluten” in corn gluten meal and corn gluten feed with the word “protein” on phytosanitary certificates, if needed. Not too bad a move as “protein” is probably a better description than “gluten.”
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The weekly catch in the south of Peru was almost at zero for last week due to Peru holidays and bad weather. The total catch is now at 38,630 m/t leaving 212,370 m/t on the quota for the South.
Peru’s Independence celebration this week was for 203 year of independence --- since 1821.
The fishmeal market is very quiet these days due to there being very little for sale and the buyers having decent sized shipments on hand or enroute.
Updated Peru fishmeal export numbers for January/June 2024 are at 510,200 m/t with 464,100 m/t going to China.
The current talk about fishmeal prices in trade reports suggest that we could see lower prices for the next fishing season. Fishmeal stocks in China are a little high and the local production of fishmeal will begin in a few weeks. End-users in China are in no hurry for more fishmeal purchases.
All is quiet in the fishmeal market for now.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,730 |
Danish standard fishmeal | 71% protein | 2,100 |
Peru fishmeal | 65% protein | 1,645 |
Chile fishmeal | 67% protein | 1,755!!!!!!! |
Iceland fishmeal | 71% protein | 2,100 |
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 | 1600/1620 | 1620/1640 |
67% protein 1000 hist, 120 TVN | 1650/1670 | 1670/1690 |
68% protein 500 hist, 100 TVN | 1730/1750 | 1750/1770 |
Fish oil, crude bulk | 4,800 | 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 | 5,500/6,000 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
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