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Email: wbacon@hammersmith.biz
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WEEKLY USA GRAIN AND PROTEIN REPORT -- October 05, 2024
Lower prices for soybeans/meal were said to be related to the extension in the EU’s deforestation program – a program that had been planned for the end of December 2024 but has now moved to end December 2025. Some producers and suppliers are breathing easier while others are complaining that they made major investments in order to meet the deforestation regulations, money which now could be wasted.
Corn had a quiet week with USA prices not changing much. Good weather for the corn harvest could push prices lower in coming days but export business for US corn has been very good recently and could limit any market weakness.
Wheat prices in the US were higher on what is happening in the world market with higher Russian wheat prices leading all wheat higher. Reports add that the US winter wheat crop is in need of rainfall to start things well going into winter. Also, the France wheat crop looks to be down by close to 25%. For now, most of the factors for wheat prices are pointing higher --- although Friday was a down day for wheat futures in the US.
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Next week is the US Grains Council Export Exchange event in Fort Worth, Texas. Buyers from all over the world will be in attendance along with many of the USA export suppliers. USA DDGS is one of the major topics of the event along with corn, sorghum, barley and other commodities,
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $24.00 | Down $2.00 | |
$24.00 | Down $2.00 | ||
US Gulf Israel: Panamax m/t | $34.00 | Steady | |
US Gulf to Egypt: Panamax | $34.00 | Steady | |
US Gulf Turkey: Panamax m/t | $35.00 | Steady | |
US Gulf Morocco: Handi | $48.00 | Down $1.00 | |
US Gulf Algeria/Tunisia: Handi | $49.00 | Down $1.00 | |
$37.00 | Down $1.00 | ||
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 | $46.00 | Down $3.00 | |
US Gulf China: Panamax | $45.00 | Down $3.00 | |
US PNW Egypt: Panamax via Panama | $53.00 | 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 $2.00 | |
US PNW China: Panamax | $23.00 | Down $2.00 | |
US East Coast Nigeria: Handisize | $45.00 | Steady | |
US Lakes – Europe – 30,000 m/t | $55.00 | Down $1.00 | |
US Lakes – Morocco – 30,000 m/t | $61.00 | Down $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 | $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 | $44.00 | Down $4.00 | |
Argentina to Japan: Panamax | $45.00 | Down $4.00 | |
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 | $39.00 | Down $4.00 | |
Brazil to Japan: Panamax | $40.00 | Down $4.00 | |
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 | $43.00 | Up $1.00 | |
South Africa to China -- Handisize | $44.00 | Up $1.00 | |
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 | $19 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 $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 | $40.00 | Up $9.00 | |
Russia to Egypt – coaster 5,000 m/t | $60.00 | Up $7.00 | |
Ukraine to Turkey – coaster 5,000 m/t | No info | | |
Ukraine to Egypt – coaster 5,000 m/t | No info | ||
Baltic Dry Index | 2110 | Down 182 | |
Baltic Capesize Index | 3243 | Down 446 | |
Baltic Panamax Index | 1388 | Down 58 | |
Baltic Supramax Index | 1258 | Down 48 | |
Baltic Handisize Index | 712 | Up 2 | |
Freightos Container Index | 3798 | Down 766 | |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2024/December 2024
Wheat, USA Soft Red Winter, US Gulf | USD 263<<271 Jan | |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 267<<272 Jan | |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 225<<230 Jan | |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 227<<235 Jan | |
Wheat, Romania 12.5 pro | USD 245<<250 Jan | |
Wheat, Superior, France | USD 260<<265 Jan | |
Wheat, milling, 12.0%, Argentina, Upriver | USD 225<<235 Jan | |
Wheat, feed, Black Sea | USD 215/225 | |
Barley, France, Rouen port | USD 230/235 | |
Barley, feed, Argentina, upriver | USD 200/205 | |
Barley, feed, Black Sea, 30,000+ | USD 200/205 | |
Barley, feed, Australia | USD 235/240 | |
Corn, 2YC FOB NOLA USA | USD 210>>205 Jan | |
Corn, 3YC FOB USA Pacific northwest | USD 225<<230 Jan | |
Corn, FOB Argentina port, upriver | USD 205<<210 Jan | |
Corn, FOB Brazil port | USD 210<<220 Jan | |
Corn, FOB France | USD 244/247 Spot | |
Corn, FOB Romania | USD 220<<225 Jan | |
Corn, FOB Russia | USD 210<<220 Jan | |
Corn, FOB Ukraine, 30,000+ m/t | USD 215<<220 Jan | |
Sorghum, FOB Argentina port | USD 250/260 | |
Sorghum, FOB Texas | USD 245<<250 Jan | |
Soymeal, 48% protein, FOB NOLA | USD 415>>405 Jan | |
Soymeal, 48% protein, USA, Rotterdam | USD 440>>430 Jan | |
Soymeal, 47% pro, FOB Argentina | USD 380>>375 Jan | |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 470/480 spot | |
Soymeal, 48% protein, FOB Brazil | USD 385>>380 Jan | |
Soybeans, FOB NOLA | USD 420<<425 Jan | |
Soybeans, Argentina, FOB | USD 420<<425 Jan | |
Soybeans, Brazil, FOB | USD 440>>425 Jan | |
Soybeans, Black Sea | USD 415<<425 Jan | |
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 225/230 Jan |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Trade reports this week say that cool water temperatures in Peru could cause later spawning and delay the next fishing season until November.
Fishmeal export prices in Peru for the next season continue to slide lower – down by about USD 50 m/t this week. Known presales are up to 200,000 m/t but could easily be higher as all sales are not known.
Holidays in China have seen buyers away from the market this week and producers/exporters are sitting quietly waiting for the next flurry of demand and hoping that bids aren’t too much lower.
All the talk in the trade these days is about how good the next fishing season will be. The confidence level for a great season is currently very high but there are concerns about the possible high juvenile level and how this will affect the catch.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,680 |
Danish standard fishmeal | 71% protein | 2,160 |
Peru fishmeal | 65% protein | No prices |
Chile fishmeal | 67% protein | 1,690 |
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 | 1200/1220 | |
67% protein 150 TVN | 1300/1320 | |
67n% protein 120 TVN | 1350/1370 | 1350/1370 |
67% protein 1000 hist, 120 TVN | 1400/1420 | 1400/1420 |
68% protein 500 hist, 100 TVN | 1450/1470 | 1450/1470 |
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
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