3 Avenue Marie Gasquet, St Remy de Provence, 13210 France
Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
WEEKLY USA GRAIN AND PROTEIN REPORT -- August 10, 2024
Next week is USDA WASDE reporting week once again -- always an exciting time. All the experts seem to feel that production/yield numbers will be higher, which helped to push USA prices lower this week.
Corn prices were down a little this week – no more than USD 3 or 4 m/t. New crop USA soybeans were down by close to USD 10 m/t with soymeal down by USD 15 to 20 m/t. Wheat prices didn’t do much this week – only moved around by a dollar or two but didn’t seem to want to do anything much.
If the WASDE is as experts forecast, we should see lower corn prices next week as higher yields and higher stocks are expected. As with corn, the experts see higher production and higher stocks for soybeans which should keep the market a little weak.
None of the experts seem to be looking to wheat for exciting WASDE numbers ---- wheat production is expected to be up a little and ending stocks up a little but nothing major.
Monday is WASDE day --- it may or may not be exciting.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$28.00 | Down $1.00 | ||
$28.00 | Down $1.00 | ||
US Gulf Israel: Panamax m/t | $32.00 | Down $1.00 | |
US Gulf to Egypt: Panamax | $32.00 | Down $1.00 | |
US Gulf Turkey: Panamax m/t | $33.00 | Down $1.00 | |
US Gulf Morocco: Handi | $50.00 | Steady | |
US Gulf Algeria/Tunisia: Handi | $51.00 | Steady | |
$38.00 | Up $1.00 | ||
US Gulf other Med: Handi | $52.00 | 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 | $53.00 | Down $1.00 | |
US Gulf China: Panamax | $52.00 | Down $1.00 | |
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 | Steady | |
US PNW China: Panamax | $27.00 | Steady | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $57.00 | Up $1.00 | |
US Lakes – Morocco – 30,000 m/t | $63.00 | 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 | 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 | $43.00 | Down $2.00 | |
Brazil to Japan: Panamax | $44.00 | Down $2.00 | |
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 | $43.00 | Corrected | |
Australia to Europe: Panamax | $54.00 | Corrected | |
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 $53 | |
Black Sea to Indonesia: Panamax | $54 Russia | Ukraine $77 | |
Black Sea to Egypt: 40/50,000 | $19 Russia | Ukraine $27 | |
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 | $41 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 | Up $2.00 | |
Russia to Egypt – coaster 5,000 m/t | $41.00 | Up $1.00 | |
Ukraine to Turkey – coaster 5,000 m/t | No info | | |
Ukraine to Egypt – coaster 5,000 m/t | No info | | |
Baltic Dry Index | 1670 | Down 5 | |
Baltic Capesize Index | 2437 | Up 110 | |
Baltic Panamax Index | 1599 | Down 106 | |
Baltic Supramax Index | 1301 | Down 41 | |
Baltic Handisize Index | 755 | Down 4 | |
Global Container Index - Freightos | 5050 | Up 126 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR August 2024/October 2024
Wheat, USA Soft Red Winter, US Gulf | USD 220<<240 Nov | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 244<<254 Nov | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 214<<218 Nov | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 222<<226 Nov | |
Wheat, Romania 12.5 pro | USD 236<<240 Nov | |
Wheat, Superior, France, Rouen | USD 238<<243 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 210/215 | |
Barley, feed, Black Sea, 30,000+ | USD 185/190 | |
Barley, feed, Australia | USD 230/235 | |
Corn, 2YC FOB NOLA USA | USD 182<<187 Nov | |
Corn, 3YC FOB USA Pacific northwest | USD 210<<215 Nov | |
Corn, FOB Argentina port, upriver | USD 182<<190 Nov | |
Corn, FOB Brazil port | USD 189<<200 Nov | |
Corn, FOB France – Atlantic | USD 236-240 Spot | |
Corn, FOB Romania | USD 196<<205 Nov | |
Corn, FOB Russia | USD 195<<200 Nov | |
Corn, FOB Ukraine, 30,000+ m/t | USD 205<<210 Nov | |
Sorghum, FOB Argentina port | USD 260/270 | |
Sorghum, FOB Texas | USD 240<<250 Nov | |
Soymeal, 48% protein, FOB NOLA | USD 390>>375 Nov | |
Soymeal, 48% protein, USA, Rotterdam | USD 420>>405 Nov | |
Soymeal, 47% pro, FOB Argentina | USD 370>>350 Nov | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 445/450 | |
Soymeal, 48% protein, FOB Brazil | USD 353<<360 Nov | |
Soybeans, FOB NOLA | USD 397>>402 Nov | |
Soybeans, Argentina, FOB | USD 400<<405 Nov | |
Soybeans, Brazil, FOB | USD 415<<420 Nov | |
Soybeans, Black Sea | USD 450<<455 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 217/226 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Bad weather has reduced the fishing in the south of Peru to almost nothing ---about 750 m/t only.
With nothing but odds and ends left to sell in the North/Central region of Peru, business has dropped down to zero. Buyers all seem to have their needs well covered and producers have nothing left to sell. No one seems to be interested in trying to buy/sell the next fishing season. However there have been some comments in trade reports that next season’s prices may come in a little lower --- there seems to be some concern that China’s fishmeal stocks will be high which could reduce next seasons demand and weaken prices --- but we are still quite a way from then.
It looks like the next Peru North/Central fishing quota will be a minimum of 1.7 million m/t based on comments by the Minister of Production.
So here we are, still in a quiet period all we can do is speculate on the future and keep busy neatening up our office for the end of 2024.
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 | 2,130 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,770 |
Iceland fishmeal | 71% protein | 2,110 |
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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