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WEEKLY USA GRAIN AND PROTEIN REPORT -- September 14, 2024
WASDE USA corn production is steady but some experts feel that the yield numbers will have to fall in coming months due to the continued dry weather in parts of the corn belt.
Looking at prices after the WASDE, late on Friday, we see corn prices up by about USD 2m/t on the week, soybeans pretty well unchanged, soymeal down by about USD 2 m/t while US hard winter wheat was up by between USD 3 and 7 m/t depending on the grade. USA spring wheat was also up by about USD 7 m/t.
Wheat prices were higher due more to the Russia/Ukraine situation than any change in the USA situation. The attack by Russia on a Ukraine grain vessel was enough to get the market moving higher.
Soybeans had tried to move prices higher after the WASDE report but that didn’t hold as prices on Friday slipped a little lower.
USA corn prices moved a little higher, also on the black Sea situation and on the slightly tighter corn ending stocks seen in the WASDE report. Experts seem to feel that corn prices may have reached the bottom for now. The continued worries about the Mississippi River situation will probably keep FOB NOLA prices firm.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$22.00 | Down $1.00 | |
$22.00 | Down $1.00 | |
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 | $48.00 | Down $1.00 |
US Gulf Algeria/Tunisia: Handi | $49.00 | Down $1.00 |
$38.00 | Steady | |
US Gulf other Med: Handi | $50.00 | 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 | $45.00 | Down $2.00 |
US Gulf China: Panamax | $44.00 | Down $2.00 |
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 | $24.00 | Down $1.00 |
US PNW China: Panamax | $23.00 | Down $1.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $55.00 | Down $2.00 |
US Lakes – Morocco – 30,000 m/t | $61.00 | Down $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 | $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 | $43.00 | Down $2.00 |
Argentina to Japan: Panamax | $44.00 | Down $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 | $40.00 | Steady |
Brazil to Japan: Panamax | $41.00 | Steady |
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 | Down $1.00 |
Australia to Europe: Panamax | $52.00 | Down $2.00 |
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 | $52 Russia | Ukraine $50 |
Black Sea to Indonesia: Panamax | $53 Russia | Ukraine $67 |
Black Sea to Egypt: 40/50,000 | $18 Russia | Ukraine $28 |
Black Sea to Egypt: 30,000 | $17 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $45 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 $24 |
Black Sea to South Africa – Handi | $55 Russia | |
Black Sea to Nigeria – Handi | Ukraine $46 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $28.00 | Up $3.00 |
Russia to Egypt – coaster 5,000 m/t | $47.00 | Steady |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | $47.00 | Steady |
Baltic Dry Index | 1890 | Down 51 |
Baltic Capesize Index | 3089 | Down 267 |
Baltic Panamax Index | 1428 | Up 134 |
Baltic Supramax Index | 1264 | Up 4 |
Baltic Handisize Index | 707 | Down 17 |
Freightos Container Index | 5019 | Down 48 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2024/December 2024
Wheat, USA Soft Red Winter, US Gulf | USD 250<<260 Dec |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 265<<270 Dec |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 Dec |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 217<<227 Dec |
Wheat, Romania 12.5 pro | USD 240<<245 Dec |
Wheat, Superior, France | USD 248<<252 Dec |
Wheat, milling, 12.0%, Argentina, Upriver | USD 255>>225 Dec |
Wheat, feed, Black Sea | USD 205/210 |
Barley, France, Rouen port | USD 220/225 |
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 Dec |
Corn, 3YC FOB USA Pacific northwest | USD 215<<220 Dec |
Corn, FOB Argentina port, upriver | USD 190<<195 Dec |
Corn, FOB Brazil port | USD 205<<205 Dec |
Corn, FOB France | USD 237/241 Spot |
Corn, FOB Romania | USD 190<<195 Dec |
Corn, FOB Russia | USD 200<<210 Dec |
Corn, FOB Ukraine, 30,000+ m/t | USD 200<<205 Dec |
Sorghum, FOB Argentina port | USD 250/260 |
Sorghum, FOB Texas | USD 235>>230 Dec |
Soymeal, 48% protein, FOB NOLA | USD 395<<400 Dec |
Soymeal, 48% protein, USA, Rotterdam | USD 421<<426 Dec |
Soymeal, 47% pro, FOB Argentina | USD 380<<385 Dec |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 440/445 spot |
Soymeal, 48% protein, FOB Brazil | USD 395>>375 Dec |
Soybeans, FOB NOLA | USD 410<<415 Dec |
Soybeans, Argentina, FOB | USD 415<<420 Dec |
Soybeans, Brazil, FOB | USD 430<<435 Dec |
Soybeans, Black Sea | USD 420<<430 Dec |
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 215/225 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Adjusted Peru fishmeal export numbers show a total of 672.700 m/t shipped to the end of July 2024. 652,400 m/t were sent to Asia ---- 615,000 to China and 24,000 to Japan. Early shipment estimates for August are at 109,000 m/t – with 99,000 m/t to China. China represents close to 92% of total Peru fishmeal exports so far in 2024.
Estimated fishmeal prices in Peru seem to be about USD 50 m/t lower this week – probably because fishmeal prices in China are moving a little lower due to the large stocks on hand and more on the way.
There is still no fishmeal trading being done in Peru --- no stock and no certainty about the next fishing season. Most trade reports seem to feel that prices could move a little lower depending on the size of the next Peru fishing quota late in October.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,665 |
Danish standard fishmeal | 71% protein | 2,120 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,720 |
Iceland fishmeal | 71% protein | 2,120 |
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 | 1400/1420 | |
67% protein 150 TVN | 1500/1520 | |
67n% protein 120 TVN | 1550/1570 | 1550/1570 |
67% protein 1000 hist, 120 TVN | 1600/1620 | 1600/1620 |
68% protein 500 hist, 100 TVN | 1650/1670 | 1650/1670 |
Fish oil, crude bulk | 4,500/4,800 | 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 | 5,000/5,500 | 6,300/6,500 |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
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