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 – January 03, 2026
This week’s report is not as comprehensive or accurate as usual since many of the sources of information are not back up to speed after the holidays.
Looking at prices for this week compared to our last report on December 20, 2025, corn prices have dropped by just over USD 2 MT while soybeans have dropped by USD 5 MT and soymeal is also lower by USD 5 MT. US winter wheat is unchanged for the period while US spring wheat has moved lower by USD 3 MT.
Trade reports noted this week that both soymeal and US winter wheat have been lower for the last 6 weeks and soybeans lower for 4 weeks.
In the US, corn exports are still good and corn demand for ethanol is strong but corn just keeps sliding a little lower every week.
Soybeans continued the march down to lower prices as investment funds look to have all switched from longs to shorts, which helps to move prices lower.
Wheat too has seen good demand in local and export markets but it seems that there is just too much wheat available to keep prices from falling.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $28.00 | Steady |
$28.00 | Steady | |
US Gulf Israel: Panamax m/t | $39.00 | Steady |
US Gulf to Egypt: Panamax | $39.00 | Steady |
US Gulf Turkey: Panamax m/t | $40.00 | Steady |
US Gulf Morocco: Handi | $41.00 | Up $1.00 |
US Gulf Algeria/Tunisia: Handi | $42.00 | Up $1.00 |
$39.00 | Steady | |
US Gulf other Med: Handi | $43.00 | Up $1.00 |
US Gulf South Africa: Handi | $41.00 | Steady |
US Gulf India : Panamax | $52.00 | Steady |
US Gulf Bangladesh: Panamax | $56.00 | Steady |
US Gulf to Philippines: Panamax | $52.00 | Steady |
US Gulf to Vietnam: Panamax | $49.00 | Steady |
US Gulf Japan: Panamax | $55.00 | Up $2.00 |
US Gulf China: Panamax | $54.00 | Up $1.00 |
US PNW Egypt: Panamax via Panama | $42.00 | Steady |
US PNW South Africa – 40,000 m/t | $65.00 | Steady |
US PNW Bangladesh: Panamax | $44.00 | Steady |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Vietnam: Panamax | $28.00 | 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 | $58.00 | Steady |
US Lakes – Morocco – 30,000 m/t | $64.00 | Steady |
France/Germany to Algeria: Handi | $33.00 | Steady |
France/Germany to Bangladesh 40,000 m/t | $54.00 | Steady |
France/Germany to China: Panamax | $70.00 | Steady |
France/Germany to Egypt: Panamax | $36.00 | Up $2.00 |
France/Germany to India: Panamax | $42.00 | Down $1.00 |
France/Germany to Iran: Panamax | $35.00 | 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 | $35.00 | Steady |
France/Germany to Yemen: Handi | $66.00 | Steady |
Argentina to Algeria: Handi | $46.00 | Steady |
Argentina to China: Panamax | $39.00 | Steady |
Argentina to Japan: Panamax | $40.00 | Steady |
Argentina to Egypt: Panamax | $52.00 | Steady |
Argentina to Europe: Panamax | $40.00 | 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 | $40.00 | Steady |
Argentina to Tunisia: Handi | $46.00 | Steady |
Brazil to Algeria/Tunisia: Handi | $42.00 | Steady |
Brazil to China: Panamax | $36.00 | Steady |
Brazil to Japan: Panamax | $37.00 | Steady |
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 | $43.00 | Steady |
Australia to Europe: Panamax | $56.00 | 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 | $46 Russia | Ukraine $57 |
Black Sea to Indonesia: Panamax | $52 Russia | Ukraine $63 |
Black Sea to Bangladesh: Panamax | $45 Russia | |
Black Sea to Egypt: 40/50,000 | $24 Russia | Ukraine $31 |
Black Sea to Egypt: 30,000 | $20 Russia | Ukraine $27 |
Black Sea to Iran: Panamax | $43 Russia | Ukraine $61 |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $23 |
Black Sea to East Spain -- Panamax | $23 Russia | Ukraine $18 |
Black Sea to Morocco – Handi | $29 Russia | Ukraine $29 |
Black Sea to Tunisia/Algeria – Handi | $28 Russia | Ukraine $28 |
Black Sea to Jordan: Panamax | $28 Russia | Ukraine $29 |
Black Sea to Libya – Handi | $29 Russia | Ukraine $29 |
Black Sea to Saudi: Panamax | $44 Russia | Ukraine $50 |
Black Sea to Turkey – Handi | $12 Russia | Ukraine $26 |
Black Sea to South Africa – Handi | $55 Russia | |
Black Sea to Nigeria – Handi | Ukraine $45 | |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $35.00 | Steady |
Russia to Egypt – coaster 5,000 m/t | $52.00 | Steady |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index 40% Capesize, 30% Panamax, 30% Supermax | 1882 | |
Baltic Capesize Index | 3108 | |
Baltic Panamax Index | 1282 | |
Baltic Supramax Index | 1076 | |
Baltic Handisize Index | 685 | |
Freightos/Baltic Container Index | 2437 | |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR January 2026/March 2026
Wheat, USA Soft Red Winter, US Gulf | USD 227<<235 Apr |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 236<<241 Apr |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 225<<230 Apr |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 225<<230 Apr |
Wheat, Romania 12.5 pro | USD 230<<235 Apr |
Wheat, Superior, France | USD 229/232 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 215<<220 Apr |
Wheat, feed, Black Sea | USD 220<<225 Apr |
Barley, France, Rouen port | USD 238/241 |
Barley, feed, Argentina, upriver | USD 225/228 |
Barley, feed, Black Sea, 30,000+ | USD 220/225 |
Barley, feed, Australia | USD 240/245 |
Corn, 2YC FOB NOLA USA | USD 212 flat to Apr |
Corn, 3YC FOB USA Pacific northwest | USD 220 flat to Apr |
Corn, FOB Argentina port, upriver | USD 215>>200 Apr |
Corn, FOB Brazil port | USD 225 flat to Apr |
Corn, FOB France | USD 223/226 Spot |
Corn, FOB Romania | USD 220<<225 Apr |
Corn, FOB Russia | USD 215<<220 Apr |
Corn, FOB Ukraine, 30,000+ m/t | USD 215<<220 Apr |
Sorghum, FOB Argentina port | USD 210<<215 Apr |
Sorghum, FOB Texas | USD 215<<220 Apr |
Soymeal, 48% protein, FOB NOLA | USD 365>>355 Apr |
Soymeal, 48% protein, USA, Rotterdam | USD 395>>385 Apr |
Soymeal, 47% pro, FOB Argentina | USD 335>>315 Apr |
Soymeal, 48% protein, FOB Brazil | USD 330>>320 Apr |
Soybeans, FOB NOLA | USD 415<<420 Apr |
Soybeans, Argentina, FOB | USD 405>>385 Apr |
Soybeans, Brazil, FOB | USD 400 steady to Apr |
Soybeans, Black Sea | USD 400<<410 Apr |
Corn Gluten Meal, USA FOB NOLA | USD 585>>580 |
Corn Gluten Feed, USA FOB NOLA | USD 230>>225 |
DDGS corn, 35 profat, USA FOB NOLA | USD 230>>225 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Needless to say, the fishing in all of Peru was down for the past week due to holidays. Total catch for the North/Central Region is at 1.41 million MT which leaves 220,000 MT on the quota and four weeks to go. South Region fishing was at 2,700 MT against the new 2026 quota of 251,000 MT.
Fishmeal prices in Peru are reported to have moved lower in the past few days as all the existing pre-sales are now covered and producers have a little stock available for sale. The China aqua season has also ended so buying interest has slacked off for now. Peru producers seem quite happy to book new business, even at lower prices.
Selling prices in China are also reported to have moved lower as local spot demand has dropped.
Trade reports mention that there has even been some fishmeal sales booked for the next fishing season in April/May ---- very early to see this.
European fishmeal prices – FOB North German port.
No update in prices available this week
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | $1800 |
Danish standard fishmeal | 71% protein | $2485 |
Peru fishmeal | 65% protein | $2210 |
Chile fishmeal | 67% protein | $2250 |
Iceland fishmeal | 71% protein | $2540 |
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 |
Next fishing season | ||
65% protein standard steam | 1760/1780 | |
66% protein 120 TVN | 1790/1810 | |
67% protein 150 TVN | 1810/1830 | |
67% protein 120 TVN | 1990/2010 | 2170/2190 |
67% protein 1000 hist, 120 TVN | 2020/2040 | 2220/2240 |
68% protein 500 hist, 100 TVN | 2090/2110 | 2220/2240 |
Fish oil, crude bulk – feed grade | 3400/3500 | 3000/3100 |
Fish oil, crude in drums | No prices | No prices |
Fish oil, flexi tank | No prices | No prices |
Fish oil, Omega 3: 28%EPA/DHA | 4200/4300 | No prices |
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.