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 -- April 12, 2025
USA corn prices were up by about USD 12 on the week with US soybeans up by USD 22 m/t and soymeal up by about USD 15 m/t. USA hard red winter wheat was up by USD 5 m/t while soft red winter wheat was up by almost USD 10 m/t. USA spring wheat was also up by about USD 10 m/t.
According to the WASDE report both corn and soybeans will have lower than expected USA and world stock levels which certainly helped to push prices higher as the week ended. Overall, the WASDE report was seen as bullish for about everything. The tariff related weakness in the US dollar also helped to push prices higher.
Although many of the new tariffs (above 10%) have been delayed for 90 days and the stock market has rushed to recover, there is still quite a bit of worry in the grain/oilseed business. China, where all the tariffs still apply, is a major buyer from the USA for corn, soybeans, sorghum and DDGS ---- exporters are now looking everywhere for alternative markets.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
The USA/China trade tariff situation has created a great deal of confusion in the container freight market ---- China to US shipments are a large share of the container business and container lines are moving quickly to rearrange shipping schedules to reduce the China/USA – USA/China routings. Finding container freight for destinations from the USA that were serviced by routes that ended in China/Asia is difficult.
US Gulf to Europe: Panamax | $22.00 | Down $1.00 |
$22.00 | Down $1.00 | |
US Gulf Israel: Panamax m/t | $26.00 | Down $3.00 |
US Gulf to Egypt: Panamax | $26.00 | Down $3.00 |
US Gulf Turkey: Panamax m/t | $27.00 | Down $3.00 |
US Gulf Morocco: Handi | $27.00 | Down $3.00 |
US Gulf Algeria/Tunisia: Handi | $28.00 | Down $3.00 |
$31.00 | Steady | |
US Gulf other Med: Handi | $29.00 | Down $3.00 |
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 $2.00 |
US Gulf China: Panamax | $45.00 | Down $2.00 |
US PNW Egypt: Panamax via Panama | $36.00 | Down $1.00 |
US PNW South Africa – 40,000 m/t | $65.00 | Steady |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Japan: Panamax | $27.00 | Down $1.00 |
US PNW China: Panamax | $26.00 | Down $1.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $51.00 | Up $1.00 |
US Lakes – Morocco – 30,000 m/t | $57.00 | Up $1.00 |
France/Germany to Algeria: Handi | $33.00 | Steady |
France/Germany to China: Panamax | $70.00 | Steady |
France/Germany to Egypt: Panamax | $42.00 | Down $1.00 |
France/Germany to Iran: Panamax | $37.00 | Steady |
France/Germany to Jordan: Panamax | $42.00 | Steady |
France/Germany to Morocco: Handi | $32.00 | Steady |
France/Germany to Saudi Arabia: Panamax | $65.00 | Steady |
France/Germany to Turkey: Handi | $36.00 | Steady |
France/Germany to Yemen: Handi | $66.00 | Steady |
Argentina to Algeria: Handi | $46.00 | Steady |
Argentina to China: Panamax | $39.00 | Down $1.00 |
Argentina to Japan: Panamax | $40.00 | Down $1.00 |
Argentina to Egypt: Panamax | $53.00 | Steady |
Argentina to Europe: Panamax | $36.00 | 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 | $62.00 | 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 | $53.00 | Steady |
Argentina to Spain: Panamax | $36.00 | Steady |
Argentina to Tunisia: Handi | $46.00 | Steady |
Brazil to Algeria/Tunisia: Handi | $41.00 | Steady |
Brazil to China: Panamax | $35.00 | Down $1.00 |
Brazil to Japan: Panamax | $36.00 | Down $1.00 |
Brazil to South Korea: Panamax | $48.00 | Steady |
Brazil to Europe: Panamax | $39.00 | Steady |
Brazil to Morocco: Handi | $40.00 | 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 | $41.00 | Down $1.00 |
Australia to Europe: Panamax | $51.00 | 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 | $36 Russia | Ukraine $50 |
Black Sea to Indonesia: Panamax | $52 Russia | Ukraine $65 |
Black Sea to Egypt: 40/50,000 | $13 Russia | Ukraine $35 |
Black Sea to Egypt: 30,000 | $13 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $34 Russia | Ukraine $61 |
Black Sea to Europe: Panamax | $26 Russia | Ukraine $34 |
Black Sea to Morocco – Handi | $20 Russia | Ukraine $40 |
Black Sea to Tunisia/Algeria – Handi | $19 Russia | Ukraine $39 |
Black Sea to Jordan: Panamax | $37 Russia | Ukraine $51 |
Black Sea to Libya – Handi | $20 Russia | Ukraine $40 |
Black Sea to Saudi: Panamax | $37 Russia | Ukraine $70 |
Black Sea to Turkey – Handi | $15 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 | $20.00 | Down $2.00 |
Russia to Egypt – coaster 5,000 m/t | $33.00 | Down $1.00 |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index | 1274 | Down 215 |
Baltic Capesize Index | 1803 | Down 416 |
Baltic Panamax Index | 1186 | Down 239 |
Baltic Supramax Index | 939 | Down 32 |
Baltic Handisize Index | 582 | Down 31 |
Freightos/Baltic Container Index | 2067 | Down 80 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR May 2025/July 2025
Wheat, USA Soft Red Winter, US Gulf | USD 235>>240 Aug |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 251<<255 Aug |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 240>>230 Aug |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 250>>240 Aug |
Wheat, Romania 12.5 pro | USD 255>>245 Aug |
Wheat, Superior, France | USD 248/251 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 250<<260 Aug |
Wheat, feed, Black Sea | USD 235>>220 Aug |
Barley, France, Rouen port | USD 235/240 |
Barley, feed, Argentina, upriver | USD 230/235 |
Barley, feed, Black Sea, 30,000+ | USD 225/230 |
Barley, feed, Australia | USD 240/245 |
Corn, 2YC FOB NOLA USA | USD 220>>215 Aug |
Corn, 3YC FOB USA Pacific northwest | USD 230>>225 Aug |
Corn, FOB Argentina port, upriver | USD 230>>210 Aug |
Corn, FOB Brazil port | USD 235>>215 Aug |
Corn, FOB France | USD 240/243 Spot |
Corn, FOB Romania | USD 245<<250 Aug |
Corn, FOB Russia | USD 230<<235 Aug |
Corn, FOB Ukraine, 30,000+ m/t | USD 240>>230 Aug |
Sorghum, FOB Argentina port | USD 225<<235 Aug |
Sorghum, FOB Texas | USD 220<<225 Aug |
Soymeal, 48% protein, FOB NOLA | USD 355 flat to Aug |
Soymeal, 48% protein, USA, Rotterdam | USD 380 flat to Aug |
Soymeal, 47% pro, FOB Argentina | USD 330<<340 Aug |
Soymeal, 48% protein, Brazil, Rotterdam – spot | No prices |
Soymeal, 48% protein, FOB Brazil | USD 330<<355 Aug |
Soybeans, FOB NOLA | USD 415>>400 Aug |
Soybeans, Argentina, FOB | USD 400<<415 Aug |
Soybeans, Brazil, FOB | USD 405<<425 Aug |
Soybeans, Black Sea | USD 390<<400 Aug |
Corn Gluten Meal, USA FOB NOLA | USD 625/630 |
Corn Gluten Feed, USA FOB NOLA | USD 225/230 |
DDGS corn, 35 profat, USA FOB NOLA | USD 230>>220 Aug |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
It has been announced that the next North/Central fishing season in Peru will begin on April 22. No quota has been advised yet but the trade seems to feel that it will be at 2.4 million m/t. The new quota will be published on Apil 16.
Fishing in the South of Peru has dropped off to almost nothing with only 2,900 m/t landed last week bringing the total catch up to 184,400 m/t which leaves 66,400 m/t available. Only about 10 vessels did any fishing last week.
Fishmeal prices in China are stable even though fishmeal shipments from the USA will be hit by the latest China import tariff of 125%. Last year the USA shipped about 60,000 m/t of fishmeal to China. In the scheme of things, USA fishmeal shipments to China are not particularly significant and will be easily replaced from other origins.
Advance fishmeal sales for th next fishing season are now reported to be at about 230,000 m/t which will be just over 40% of the next season’s production, assuming a quota of 2.4 million m/t.
Fishmeal producer Exalmar has agreed to purchase Pesquera Centinela, which reports say could add as much as $500 million to Exalmar’s annual sales. Details of the agreement have not been published,
European fishmeal prices – FOB North German port.
Sorry but no updated prices are available this week.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | 1,660 |
Danish standard fishmeal | 71% protein | 2,145 |
Peru fishmeal | 65% protein | 1,690 |
Chile fishmeal | 67% protein | 1,760 |
Iceland fishmeal | 71% protein | 2,240 |
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 | 1420/1440 | |
67% protein 150 TVN | 1520/1540 | |
67% protein 120 TVN | 1570/1590 | 1550/1570 |
67% protein 1000 hist, 120 TVN | 1620/1640 | 1600/1620 |
68% protein 500 hist, 100 TVN | 1650/1670 | 1650/1670 |
Fish oil, crude bulk – feed grade | 2100/2200 | 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 | 3500/3600 | No prices |
INFORMATION: gtee = guarantee, TVN = total volatile nitrogen, hist = histamine
Copyright © 2025 Wayne S. Bacon
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.