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WEEKLY USA GRAIN AND PROTEIN REPORT -- August 17, 2024
Sorry to be a day late with this week’s report --- it was just a very busy week.
Corn prices continued to see a great deal of pressure from the upcoming harvest and didn’t have any hope of steady to higher prices --- only lower seems to be the trend for now. Corn futures contracts were hitting new lows and do look to be going lower next week.
Soybeans and soymeal kept dropping as the effects of the bearish WASDE report was felt to the end of the week. There is nothing like forecasting record high crop levels to push prices lower and lower. Soybean futures are at the lowest seen in four years and, with a record crop and slow exports, no one is looking for higher US soybean prices.
USA wheat prices are said to be in a trading range for now – up a little then down a little but no strong direction. This week wheat prices finished a little higher on Friday but lower on the week with the Friday mini rally said to be due to poorer wheat crops in parts of Europe.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$26.00 | Down $2.00 | ||
$26.00 | Down $2.00 | ||
US Gulf Israel: Panamax m/t | $32.00 | Steady | |
US Gulf to Egypt: Panamax | $32.00 | Steady | |
US Gulf Turkey: Panamax m/t | $33.00 | Steady | |
US Gulf Morocco: Handi | $49.00 | Down $1.00 | |
US Gulf Algeria/Tunisia: Handi | $50.00 | Down $1.00 | |
$38.00 | Steady | ||
US Gulf other Med: Handi | $51.00 | Down $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 | $53.00 | Steady | |
US Gulf China: Panamax | $52.00 | Steady | |
US PNW Egypt: Panamax via Panama | $51.00 | Down $1.00 | |
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 | Steady | |
US Lakes – Morocco – 30,000 m/t | $63.00 | 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 | $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 | $43.00 | Steady | |
Brazil to China: Panamax | $43.00 | Steady | |
Brazil to Japan: Panamax | $44.00 | 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 | $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 $52 | |
Black Sea to Indonesia: Panamax | $53 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 | $45 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 | $41.00 | Steady | |
Ukraine to Turkey – coaster 5,000 m/t | No info | | |
Ukraine to Egypt – coaster 5,000 m/t | No info | | |
Baltic Dry Index | 1691 | Up 21 | |
Baltic Capesize Index | 2537 | Up 100 | |
Baltic Panamax Index | 1552 | Down 47 | |
Baltic Supramax Index | 1304 | Up 3 | |
Baltic Handisize Index | 754 | Down 1 | |
Global Container Index - Freightos | 5436 | Up 386 | |
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR August 2024/October 2024
Wheat, USA Soft Red Winter, US Gulf | USD 220<<235 Nov | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 242<<250 Nov | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 Nov | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 219<<225 Nov | |
Wheat, Romania 12.5 pro | USD 230<<235 Nov | |
Wheat, Superior, France | USD 222<<236 Nov | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 270>>240 Nov | |
Wheat, feed, Black Sea | USD 200/205 | |
Barley, France, Rouen port | USD 197/200 | |
Barley, feed, Argentina, upriver | USD 205/210 | |
Barley, feed, Black Sea, 30,000+ | USD 185/190 | |
Barley, feed, Australia | USD 235/240 | |
Corn, 2YC FOB NOLA USA | USD 180<<185 Nov | |
Corn, 3YC FOB USA Pacific northwest | USD 205<<210 Nov | |
Corn, FOB Argentina port, upriver | USD 180<<190 Nov | |
Corn, FOB Brazil port | USD 190<<200 Nov | |
Corn, FOB France | USD 225/228 Spot | |
Corn, FOB Romania | USD 200<<205 Nov | |
Corn, FOB Russia | USD 200<<205 Nov | |
Corn, FOB Ukraine, 30,000+ m/t | USD 200<<210 Nov | |
Sorghum, FOB Argentina port | USD 255/265 | |
Sorghum, FOB Texas | USD 240<<245 Nov | |
Soymeal, 48% protein, FOB NOLA | USD 380>>370 Nov | |
Soymeal, 48% protein, USA, Rotterdam | USD 410>>400 Nov | |
Soymeal, 47% pro, FOB Argentina | USD 360>>355 Nov | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 430/440 | |
Soymeal, 48% protein, FOB Brazil | USD 360>>355 Nov | |
Soybeans, FOB NOLA | USD 380>>385 Nov | |
Soybeans, Argentina, FOB | USD 385<<390 Nov | |
Soybeans, Brazil, FOB | USD 395<<405 Nov | |
Soybeans, Black Sea | USD 435<<445 Nov | |
Corn Gluten Meal, USA FOB NOLA | USD 540/550 | |
Corn Gluten Feed, USA FOB NOLA | USD 215/225 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 215/220 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
There was no catch in the south of Peru this week due to bad weather – available quota remains at 212,400 m/t which is just under 50,000 m/t of fishmeal.
Very little is going on in new business but trade reports say that there is the odd bid at about USD 50 below recent price indications. Unsold fishmeal stock in all of Peru is reported to be less than 7,000 m/t which most feel won’t be sold due to low quality but will be blended into the next production.
The next IMARPE biomass cruise is expected to start in early September for about three weeks with the new fishing season expected to begin near the end of October. Quota is still forecasted as 1.7 million to 2.0 million m/t.
These days all that is being done in sweeping out the warehouses and talking about the next season and the risk of El Nino/La Nina --- calm and quiet days 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 | 2,120 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,750 |
Iceland fishmeal | 71% protein | 2,135 |
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 | 1700/1720 |
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
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