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WEEKLY USA GRAIN AND PROTEIN REPORT -- September 28, 2024
Corn prices were said to have moved higher due to possible crop damage in parts of the US due to hurricane Helene. There was also some sympathy buying in corn futures as soy prices ran higher. Of course, lower forecasts for EU crop production probably also helped as did some news stories about increased shipments of US corn to EU.
Soybeans/soymeal were higher on reported dry conditions in Brazil that could be bad for beans and flooding in the eastern USA due to high rainfall and the effects of hurricane Helene.
Wheat didn’t have too exciting a week this week but there was some upward price pressure due to lower crop forecasts for France this year and for Ukraine for next spring. Expectations seen to remain high for US wheat export for the next few months.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $26.00 | Up $2.00 | |
$26.00 | Up $2.00 | ||
US Gulf Israel: Panamax m/t | $34.00 | Up $2.00 | |
US Gulf to Egypt: Panamax | $34.00 | Up $2.00 | |
US Gulf Turkey: Panamax m/t | $35.00 | Up $2.00 | |
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 | Up $2.00 | |
US Gulf China: Panamax | $48.00 | Up $2.00 | |
US PNW Egypt: Panamax via Panama | $53.00 | Up $2.00 | |
US PNW South Africa – 40,000 m/t | $65.00 | Steady | |
US PNW Philippines: Panamax | $34.00 | Steady | |
US PNW Japan: Panamax | $26.00 | Up $1.00 | |
US PNW China: Panamax | $25.00 | Up $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 | $39.00 | 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 | $34.00 | Steady | |
France/Germany to Yemen: Handi | $66.00 | Steady | |
Argentina to Algeria: Handi | $46.00 | Steady | |
Argentina to China: Panamax | $48.00 | Up $2.00 | |
Argentina to Japan: Panamax | $49.00 | Up $2.00 | |
Argentina to Egypt: Panamax | $53.00 | Steady | |
Argentina to Europe: Panamax | $34.00 | 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 | $34.00 | Steady | |
Argentina to Tunisia: Handi | $46.00 | Steady | |
Brazil to Algeria/Tunisia: Handi | $40.00 | Steady | |
Brazil to China: Panamax | $43.00 | Up $3.00 | |
Brazil to Japan: Panamax | $44.00 | Up $3.00 | |
Brazil to South Korea: Panamax | $48.00 | Steady | |
Brazil to Europe: Panamax | $39.00 | Steady | |
Brazil to Morocco: Handi | $39.00 | 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 | $42.00 | Steady | |
Australia to Europe: Panamax | $52.00 | 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 | $50 Russia | Ukraine $50 | |
Black Sea to Indonesia: Panamax | $52 Russia | Ukraine $67 | |
Black Sea to Egypt: 40/50,000 | $18 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 | $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 $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 | $31.00 | Up $6.00 | |
Russia to Egypt – coaster 5,000 m/t | $53.00 | Up $6.00 | |
Ukraine to Turkey – coaster 5,000 m/t | No info | | |
Ukraine to Egypt – coaster 5,000 m/t | No info | ||
Baltic Dry Index | 2110 | Up 133 | |
Baltic Capesize Index | 3689 | Up 454 | |
Baltic Panamax Index | 1446 | Down 92 | |
Baltic Supramax Index | 1306 | Up 17 | |
Baltic Handisize Index | 710 | Up 3 | |
Freightos Container Index | 4564 | Down 137 | |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2024/December 2024
Wheat, USA Soft Red Winter, US Gulf | USD 260 Steady Jan | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 255<<265 Jan | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 Jan | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 220<<230 Jan | |
Wheat, Romania 12.5 pro | USD 235<<240 Jan | |
Wheat, Superior, France | USD 240<<247 Jan | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 255>>230 Jan | |
Wheat, feed, Black Sea | USD 210/215 | |
Barley, France, Rouen port | USD 215/220 | |
Barley, feed, Argentina, upriver | USD 200/205 | |
Barley, feed, Black Sea, 30,000+ | USD 190/195 | |
Barley, feed, Australia | USD 230/235 | |
Corn, 2YC FOB NOLA USA | USD 205>>200 Jan | |
Corn, 3YC FOB USA Pacific northwest | USD 220<<225 Jan | |
Corn, FOB Argentina port, upriver | USD 195<<200 Jan | |
Corn, FOB Brazil port | USD 210<<215 Jan | |
Corn, FOB France | USD 238/241 Spot | |
Corn, FOB Romania | USD 210<<215 Jan | |
Corn, FOB Russia | USD 205<<215 Jan | |
Corn, FOB Ukraine, 30,000+ m/t | USD 210<<215 Jan | |
Sorghum, FOB Argentina port | USD 250/260 | |
Sorghum, FOB Texas | USD 235<<240 Jan | |
Soymeal, 48% protein, FOB NOLA | USD 445>>430 Jan | |
Soymeal, 48% protein, USA, Rotterdam | USD 471>>456 Jan | |
Soymeal, 47% pro, FOB Argentina | USD 390<<395 Jan | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 475/480 spot | |
Soymeal, 48% protein, FOB Brazil | USD 410>>395 Jan | |
Soybeans, FOB NOLA | USD 435>>430 Jan | |
Soybeans, Argentina, FOB | USD 435<<440 Jan | |
Soybeans, Brazil, FOB | USD 450>>435 Jan | |
Soybeans, Black Sea | USD 425<<435 Jan | |
Corn Gluten Meal, USA FOB NOLA | USD 540/550 | |
Corn Gluten Feed, USA FOB NOLA | USD 210/220 | |
DDGS corn, 35 profat, USA FOB NOLA | USD 220/225 Jan |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Trade reports say that they don’t expect any fishing in the South Region in September or October. The available quota stands at 212,372 m/t.
Reports say that there has been some trading for the next fishing season but at lower prices – as shown in the table below – down by USD 100 to 150 m/t. Presales are estimated to be at about 180,000 m/t or more with more buyer interest seen at the lower price level.
China’s fishmeal imports up to the end of August 2024 stand at 1.38 million m/t with 596,000 m/t coming from Peru, 136,000 m/t from Vietnam, 126,000 m/t from Chile, 102,000 m/t from Russia and 100,000 m/t from Thailand – and there were 16 additional countries on the import list.
So, this was a very busy week for fishmeal, the first busy week in a while --- lots of buyers from China in the market and many willing Peru sellers. According to reports there was also buying interest from Germany.
A couple of trade reports say that Peru producers may not want to pre-book too much more business as they don’t want to oversell the next seasons production. The next fishing quota is still the big question.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,650 |
Danish standard fishmeal | 71% protein | 2,155 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,670 |
Iceland fishmeal | 71% protein | 2,155 |
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 | 1250/1270 | |
67% protein 150 TVN | 1350/1370 | |
67n% protein 120 TVN | 1400/1420 | 1400/1420 |
67% protein 1000 hist, 120 TVN | 1450/1470 | 1450/1470 |
68% protein 500 hist, 100 TVN | 1500/1520 | 1500/1520 |
Fish oil, crude bulk | 4,000/4,500 | 3,100/3,200 |
Fish oil, crude drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | 4,500/5,000 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
