3 Avenue Marie Gasquet, St Remy de Provence, 13210 France
Phone: +33.6.8068.4564
Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
WEEKLY USA GRAIN AND PROTEIN REPORT -- December 07, 2024
Next week is USDA WASDE week once again --- not too much change expected according to the trade but the feeling is that corn ending stocks will be increased a little. Soybean stocks may be up a little too but neither looks like a major change.
Looking at prices, corn was up about USD 3 on the week with soybeans almost unchanged. Soymeal was down about USD 4 m/t. US winter wheat prices were up by USD 4 to 6 m/t while US spring wheat was unchanged on the week.
The US futures market finished with a little strength for grains and oilseeds on Friday as new export business was reported. There were some comments in the press that the grain/oilseed industries are looking at the Trump presidency as a possible positive in months to come but no real details on what those positives could be.
The US Grains Council has issued its 2024/25 Corn Crop Harvest Quality Report, just click below:
https://grains.org/corn_report/corn-harvest-quality-report-2024-2025-2/
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $22.00 | Down $1.00 |
$22.00 | Down $1.00 | |
US Gulf Israel: Panamax m/t | $31.00 | Up $1.00 |
US Gulf to Egypt: Panamax | $31.00 | Up $1.00 |
US Gulf Turkey: Panamax m/t | $32.00 | Up $1.00 |
US Gulf Morocco: Handi | $43.00 | Up $1.00 |
US Gulf Algeria/Tunisia: Handi | $44.00 | Up $1.00 |
$36.00 | Steady | |
US Gulf other Med: Handi | $45.00 | 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 | $39.00 | Down $5.00 |
US Gulf China: Panamax | $38.00 | Down $5.00 |
US PNW Egypt: Panamax via Panama | $48.00 | 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 | $22.00 | Down $3.00 |
US PNW China: Panamax | $21.00 | Down $3.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $51.00 | Down $3.00 |
US Lakes – Morocco – 30,000 m/t | $57.00 | Down $3.00 |
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 | $37.00 | 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 | $36.00 | Down $3.00 |
Argentina to Japan: Panamax | $37.00 | Down $3.00 |
Argentina to Egypt: Panamax | $53.00 | Steady |
Argentina to Europe: Panamax | $28.00 | Down $2.00 |
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 | $28.00 | Down $2.00 |
Argentina to Tunisia: Handi | $46.00 | Steady |
Brazil to Algeria/Tunisia: Handi | $40.00 | Steady |
Brazil to China: Panamax | $34.00 | Up $2.00 |
Brazil to Japan: Panamax | $35.00 | Up $2.00 |
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 | Steady |
South Africa to China -- Handisize | $43.00 | Steady |
Black Sea freight | ||
Black Sea to China: Panamax | $35 Russia | Ukraine $50 |
Black Sea to Indonesia: Panamax | $50 Russia | Ukraine $65 |
Black Sea to Egypt: 40/50,000 | $15 Russia | Ukraine $28 |
Black Sea to Egypt: 30,000 | $17 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $34 Russia | Ukraine $61 |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $30 |
Black Sea to Morocco – Handi | $26 Russia | Ukraine $40 |
Black Sea to Tunisia/Algeria – Handi | $25 Russia | Ukraine $39 |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $51 |
Black Sea to Libya – Handi | $26 Russia | Ukraine $40 |
Black Sea to Saudi: Panamax | $40 Russia | Ukraine $70 |
Black Sea to Turkey – Handi | $18 Russia | Ukraine $25 |
Black Sea to South Africa – Handi | $55 Russia | |
Black Sea to Nigeria – Handi | Ukraine $45 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $29.00 | Down $2.00 |
Russia to Egypt – coaster 5,000 m/t | $44.00 | Down $4.00 |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index | 1167 | Down 187 |
Baltic Capesize Index | 1535 | Down 598 |
Baltic Panamax Index | 1067 | Up 49 |
Baltic Supramax Index | 974 | Down 6 |
Baltic Handisize Index | 644 | Down 15 |
Freightos/Baltic Container Index | 3484 | Down 189 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR January 2025/March 2025
Wheat, USA Soft Red Winter, US Gulf | USD 238 flat to March |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 248 flat to March |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 225<<230 Mar |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 240<<245 Mar |
Wheat, Romania 12.5 pro | USD 235<<240 Mar |
Wheat, Superior, France | USD 235<<240 Mar |
Wheat, milling, 12.0%, Argentina, Upriver | USD 225<<230 Mar |
Wheat, feed, Black Sea | USD 220/225 |
Barley, France, Rouen port | USD 220/225 |
Barley, feed, Argentina, upriver | USD 205/210 |
Barley, feed, Black Sea, 30,000+ | USD 220/225 |
Barley, feed, Australia | USD 230/235 |
Corn, 2YC FOB NOLA USA | USD 205 flat to Mar |
Corn, 3YC FOB USA Pacific northwest | USD 215 flat to Mar |
Corn, FOB Argentina port, upriver | USD 205 flat to Mar |
Corn, FOB Brazil port | USD 215<<230 Mar |
Corn, FOB France | USD 224/227 Spot |
Corn, FOB Romania | USD 210<<215 Mar |
Corn, FOB Russia | USD 215<<220 Mar |
Corn, FOB Ukraine, 30,000+ m/t | USD 210<<215 Mar |
Sorghum, FOB Argentina port | USD 260/270 |
Sorghum, FOB Texas | USD 225 flat to Mar |
Soymeal, 48% protein, FOB NOLA | USD 350 flat to Mar |
Soymeal, 48% protein, USA, Rotterdam | USD 375 flat to Mar |
Soymeal, 47% pro, FOB Argentina | USD 330<<335 Mar |
Soymeal, 48% protein, Brazil, Rotterdam – spot | USD 370/375 spot |
Soymeal, 48% protein, FOB Brazil | USD 320 flat Mar |
Soybeans, FOB NOLA | USD 400 flat to Mar |
Soybeans, Argentina, FOB | USD 400>>385 Mar |
Soybeans, Brazil, FOB | USD 415>>375 Mar |
Soybeans, Black Sea | USD 420<<425 Mar |
Corn Gluten Meal, USA FOB NOLA | USD 580/590 |
Corn Gluten Feed, USA FOB NOLA | USD 215/220 |
DDGS corn, 35 profat, USA FOB NOLA | USD 220>>215 Mar |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Total North/Central catch is now at 1.25 million m/t on December 05 which leaves 1.26 mm/t on the quota --- about 280,000 m/t of fishmeal and 26,000 m/t of fishoil. Daily catch for the past week has varied between a low of 32,000 m/t and a high of 45,000 m/t. If the catch could average at 35,000 m/t then by the end of December another 650,000 m/t of quota could be landed --- depending on the mini-bans and holidays.
It does look like landing the full quota could be difficult since January is not normally the best fishing month --- only time will tell – fingers crossed.
Trade reports say that fishmeal sales are now up to 410,000 m/t against full quota fishmeal production of about 565,000 m/t.
There has been no change in fishmeal prices from Peru this week as both buyers and sellers are being a bit cautious.
And a wee note --- I cover fishmeal because Hammersmith started as a fishmeal trader back in 1984 and, even though we don’t really do any fishmeal business these days, we have 40 years of history attached to the weekly comments.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,600 |
Danish standard fishmeal | 71% protein | 2,020 |
Peru fishmeal | 65% protein | 1,520 |
Chile fishmeal | 67% protein | 1,630 |
Iceland fishmeal | 71% protein | 2,100 |
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 | 1300/1320 | |
67% protein 150 TVN | 1400/1420 | |
67n% protein 120 TVN | 1450/1470 | 1500/1520 |
67% protein 1000 hist, 120 TVN | 1500/1520 | 1550/1570 |
68% protein 500 hist, 100 TVN | 1550/1570 | 1600/1620 |
Fish oil, crude bulk | No prices | 2500/2600 |
Fish oil, crude drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | No prices | No prices |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2024 Wayne S. Bacon
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.