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WEEKLY USA GRAIN AND PROTEIN REPORT -- September 21, 2024
Trade reports show a 70,000 m/t corn cargo loading in NOLA for shipment to the Netherlands ---- this is the largest shipment to there in quite a while. USA corn exports to the EU have been much better this year with Spain, Portugal, Ireland and non-EU UK getting US corn shipments and now we have the Netherlands added.
US corn prices were up on the week but showed a small drop on Friday which experts say was due to harvest price pressure.
The increase in soybean prices seems to be due to the strength in prices for soyoil and new soybean exports to China.
Wheat prices were steady-to-lower due to US harvest pressure but not down much due to dry conditions in other export markets which could limit production. EU’s Coceral did reduce its EU soft wheat production estimate by 6.3% which helped to move wheat prices higher everywhere and may push US prices up next week.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
$24.00 | Up $2.00 | |
$24.00 | Up $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 | Up $1.00 |
US Gulf Algeria/Tunisia: Handi | $50.00 | Up $1.00 |
$38.00 | Steady | |
US Gulf other Med: Handi | $51.00 | 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 | $47.00 | Up $2.00 |
US Gulf China: Panamax | $46.00 | Up $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 | $25.00 | Up $1.00 |
US PNW China: Panamax | $24.00 | Up $1.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $56.00 | Up $1.00 |
US Lakes – Morocco – 30,000 m/t | $62.00 | Up $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 | $46.00 | Up $3.00 |
Argentina to Japan: Panamax | $47.00 | Up $3.00 |
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 | 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 | $51 Russia | Ukraine $50 |
Black Sea to Indonesia: Panamax | $52 Russia | Ukraine $67 |
Black Sea to Egypt: 40/50,000 | $17 Russia | Ukraine $28 |
Black Sea to Egypt: 30,000 | $18 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $46 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 | $25.00 | Down $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 | $47.00 | Steady |
Baltic Dry Index | 1977 | Up 87 |
Baltic Capesize Index | 3235 | Up 146 |
Baltic Panamax Index | 1538 | Up 110 |
Baltic Supramax Index | 1289 | Up 25 |
Baltic Handisize Index | 707 | Steady |
Freightos Container Index | 4701 | Down 318 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2024/December 2024
Wheat, USA Soft Red Winter, US Gulf | USD 255>>250 Jan |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 250<<255 Jan |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 215<<220 Jan |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 219<<227 Jan |
Wheat, Romania 12.5 pro | USD 233<<240 Jan |
Wheat, Superior, France | USD 239<<248 Jan |
Wheat, milling, 12.0%, Argentina, Upriver | USD 255>>230 Jan |
Wheat, feed, Black Sea | USD 210/215 |
Barley, France, Rouen port | USD 210/215 |
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 215<<220 Jan |
Corn, FOB Argentina port, upriver | USD 190<<200 Jan |
Corn, FOB Brazil port | USD 200<<210 Jan |
Corn, FOB France | USD 233/236 Spot |
Corn, FOB Romania | USD 210<<215 Jan |
Corn, FOB Russia | USD 205<<215 Jan |
Corn, FOB Ukraine, 30,000+ m/t | USD 205<<210 Jan |
Sorghum, FOB Argentina port | USD 250/260 |
Sorghum, FOB Texas | USD 237>>232 Jan |
Soymeal, 48% protein, FOB NOLA | USD 405>>395 Jan |
Soymeal, 48% protein, USA, Rotterdam | USD 431>>421 Jan |
Soymeal, 47% pro, FOB Argentina | USD 380>>375 Jan |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 460/470 spot |
Soymeal, 48% protein, FOB Brazil | USD 390>>375 Jan |
Soybeans, FOB NOLA | USD 415>>410 Jan |
Soybeans, Argentina, FOB | USD 420>>415 Jan |
Soybeans, Brazil, FOB | USD 435>>415 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:
It looks like the chances of an El Nino event affecting Peru fishing are quite slim up to March 2025. The latest ENFEN report shows 88% weak to neutral up to 95% weak to neutral. All looks quite good.
According to trade reports the first new sales have been booked to China for the upcoming season. Estimated sales prices are down by at least USD 50 m/t – some say down by US 100 m/t for Super Prime. Sales are said to have been quite small so may not represent a true market price.
Not a huge amount of interest seen from China yet as they have a record level of fishmeal stocks on hand.
The folks at MSI Ceres mention that they are off to the “new mega port of Chancay” which will be the biggest port in South America (they say). Everyone is looking forward to the full operation of this new port that will take a lot of loading pressure off of Callao port. 7,200 new jobs will be created at the new port with the “official” opening taking place in November.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,690 |
Danish standard fishmeal | 71% protein | 2,165 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,730 |
Iceland fishmeal | 71% protein | 2,180 |
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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