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 – June 28, 2025
Prices for corn and soybeans moved lower this week with corn down by about USD 6 m/t while soybeans dropped by almost USD 15 m/t and soymeal down by USD 10 m/t. USA wheat also moved lower with winter wheat down by just over USD 15 m/t and US spring wheat down by USD 10 m/t.
Next Monday the USDA will release its latest Acreage and Stocks report and with the markets selling off most of this week it looks like the market is expecting bearish numbers. However, Friday was a strong day for prices as buyers were taking advantage of the low prices but the week still finished with prices lower.
Weather reports in the USA make it look good for rainfall in quite a bit of the corn belt but there is worry about the very high temperatures that are being seen in the USA and the possible effect on early corn and soybean growth. Rain and warm temperatures are good for the crops just not too much rain or too high temperatures.
Looking at prices out a bit --- corn still looks to be bearish as do soybeans and soymeal ---- just too much available in world markets. Wheat prices are not so certain and seem to be working in a wide price range for now.
Have a great week and enjoy the heat wave that is seen in many places in the world this week.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $23.00 | Down $2.00 |
$23.00 | Down $2.00 | |
US Gulf Israel: Panamax m/t | $33.00 | Down $1.00 |
US Gulf to Egypt: Panamax | $33.00 | Down $1.00 |
US Gulf Turkey: Panamax m/t | $34.00 | Down $1.00 |
US Gulf Morocco: Handi | $34.00 | Down $1.00 |
US Gulf Algeria/Tunisia: Handi | $35.00 | Down $1.00 |
$34.00 | Steady | |
US Gulf other Med: Handi | $36.00 | 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 | $48.00 | Steady |
US Gulf China: Panamax | $47.00 | Steady |
US PNW Egypt: Panamax via Panama | $38.00 | Down $2.00 |
US PNW South Africa – 40,000 m/t | $65.00 | Steady |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Japan: Panamax | $28.00 | Steady |
US PNW China: Panamax | $27.00 | Steady |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | $54.00 | Down $1.00 |
US Lakes – Morocco – 30,000 m/t | $60.00 | Down $1.00 |
France/Germany to Algeria: Handi | $33.00 | Steady |
France/Germany to China: Panamax | $70.00 | Steady |
France/Germany to Egypt: Panamax | $41.00 | Steady |
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 | Up $2.00 |
Argentina to Japan: Panamax | $40.00 | Up #2.00 |
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 | $42.00 | Steady |
Brazil to China: Panamax | $35.00 | Up $2.00 |
Brazil to Japan: Panamax | $36.00 | Up $2.00 |
Brazil to South Korea: Panamax | $48.00 | Steady |
Brazil to Europe: Panamax | $37.00 | Steady |
Brazil to Morocco: Handi | $41.00 | Steady |
Brazil to Iran: Panamax | $61.00 | Steady |
Brazil to Saudi Arabia 30/40,000 m/t | $64.00 | Steady |
Brazil to Spain: Panamax | $37.00 | Steady |
Brazil to Turkey/Egypt: Panamax | $59.00 | Steady |
Australia to Saudi: Panamax | $41.00 | Steady |
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 | $38 Russia | Ukraine $50 |
Black Sea to Indonesia: Panamax | $52 Russia | Ukraine $64 |
Black Sea to Egypt: 40/50,000 | $13 Russia | Ukraine $34 |
Black Sea to Egypt: 30,000 | $13 Russia | Ukraine $28 |
Black Sea to Iran: Panamax | $40 Russia | Ukraine $61 |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $24 |
Black Sea to East Spain -- Panamax | $25 Russia | Ukraine $21 |
Black Sea to Morocco – Handi | $20 Russia | Ukraine $28 |
Black Sea to Tunisia/Algeria – Handi | $19 Russia | Ukraine $27 |
Black Sea to Jordan: Panamax | $18 Russia | Ukraine $29 |
Black Sea to Libya – Handi | $20 Russia | Ukraine $28 |
Black Sea to Saudi: Panamax | $38 Russia | Ukraine $50 |
Black Sea to Turkey – Handi | $12 Russia | Ukraine $24 |
Black Sea to South Africa – Handi | $55 Russia | |
Black Sea to Nigeria – Handi | Ukraine $45 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $19.00 | Steady |
Russia to Egypt – coaster 5,000 m/t | $30.00 | Steady |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index 40% Capesize, 30% Panamax, 30% Supermax | 1521 | Down 168 |
Baltic Capesize Index | 2220 | Down 659 |
Baltic Panamax Index | 1490 | Up 140 |
Baltic Supramax Index | 1009 | Up 36 |
Baltic Handisize Index | 636 | Up 12 |
Freightos/Baltic Container Index | 2842 | Down 471 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2025/September 2025
Wheat, USA Soft Red Winter, US Gulf | USD 220<<235 Oct |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 225<<250 Oct |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 220<<225 Oct |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 225<<230 Oct |
Wheat, Romania 12.5 pro | USD 230<<240 Oct |
Wheat, Superior, France | USD 227/230 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 230<<235 Oct |
Wheat, feed, Black Sea | USD 210<<215 Oct |
Barley, France, Rouen port | USD 215/220 |
Barley, feed, Argentina, upriver | USD 220/225 |
Barley, feed, Black Sea, 30,000+ | USD 200/205 |
Barley, feed, Australia | USD 250/255 |
Corn, 2YC FOB NOLA USA | USD 195<<205 Oct |
Corn, 3YC FOB USA Pacific northwest | USD 200<<215 Oct |
Corn, FOB Argentina port, upriver | USD 195<<200 Oct |
Corn, FOB Brazil port | USD 195<<205 Oct |
Corn, FOB France | USD 235/238 Spot |
Corn, FOB Romania | USD 245<<250 Oct |
Corn, FOB Russia | USD 230<<240 Oct |
Corn, FOB Ukraine, 30,000+ m/t | USD 225<<235 Oct |
Sorghum, FOB Argentina port | USD 190<<210 Oct |
Sorghum, FOB Texas | USD 180<<185 Oct |
Soymeal, 48% protein, FOB NOLA | USD 305<<320 Oct |
Soymeal, 48% protein, USA, Rotterdam | USD 330<<345 Oct |
Soymeal, 47% pro, FOB Argentina | USD 285<<310 Oct |
Soymeal, 48% protein, FOB Brazil | USD 290<<315 Oct |
Soybeans, FOB NOLA | USD 405<<410 Oct |
Soybeans, Argentina, FOB | USD 395<<410 Oct |
Soybeans, Brazil, FOB | USD 425<<435 Oct |
Soybeans, Black Sea | USD 410<<420 Oct |
Corn Gluten Meal, USA FOB NOLA | USD 580<<585 Oct |
Corn Gluten Feed, USA FOB NOLA | USD 205>>200 Oct |
DDGS corn, 35 profat, USA FOB NOLA | USD 220>>215 Oct |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Fishing remains low in the North/Central region with the total to date now up to 2.2 million m/t, which leaves just about 800,000 m/t on the quota. The new quota for the Southern region was announced at 251,000 m/t from July 01 to December 31, 2025. The closing South quota looks to be at 196,000 m/t out of the old quota of 251,000 m/t --- 46,600 m/t of fishmeal estimated to have been produced.
North/Central fishmeal production to date is estimated to be at 495,000 m/t with existing sales at a forecasted 520,000 m/t.
Fishmeal prices in both China and Europe have moved higher as prices from Preu and Chile have firmed in the past couple of weeks.
Trade reports still feel that the North/Central catch will reach only about 2.8 mm/t but there have been a few worries expressed that the total could be lower or that the fishing could be stopped if spawning starts early.
Also, this Sunday is Fishermen’s Day in Peru as informed by MSI Ceres who added that they are grateful to all the fishermen in Peru and their efforts. Being a fisherman is not an easy job --- tough difficult and dangerous.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | $1686 |
Danish standard fishmeal | 71% protein | $2335 |
Peru fishmeal | 65% protein | $1650 |
Chile fishmeal | 67% protein | $1780 |
Iceland fishmeal | 71% protein | $2390 |
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 | 1510/1530 | |
67% protein 120 TVN | 1570/1590 | No prices |
67% protein 1000 hist, 120 TVN | 1630/1650 | 1620/1640 |
68% protein 500 hist, 100 TVN | 1670/1690 | 1640/1660 |
Fish oil, crude bulk – feed grade | 2400/2500 | 2100/2200 |
Fish oil, crude drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | 3000/3400 | 3100/3300 |
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.