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 – March 07, 2026
The Iran situation is about the biggest factor in all markets this week as sellers and buyers try to understand what the actual effect will be and where prices are heading over the next
few weeks.
Next week is USDA WASDE week so we will have both WASDE and IRAN situation moving prices around.
US corn prices were up by USD 6 m/t with soybeans up by USD 11 m/t and soymeal down by USD 4 m/t. US winter wheat prices increased by USD 10 to 15 m/t with US spring wheat up by USD 11 m/t.
US wheat was the most traded commodity futures grain/oilseed item this week with futures up by about 5%.
Trade reports say that the world oil situation is pushing US corn prices higher due to the expected demand for export ethanol which should mean higher US corn consumption. Both soybeans and soy oil prices are also being pushed higher due to world oil concerns. US soy oil futures are at record levels.
Comments in trade reports are that wheat prices are up due to market concern about the Iran situation and how the Middle East could explode. Wheat futures seem to be a “safe haven” for investor and funds ---- no matter the situation, the world will always need wheat.
While nobody was too interested this week, except the farmers, there was quite a bit of rain in the corn belt of the US with warmer temperatures seen in coming days.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
US Gulf to Europe: Panamax | $27.00 | Steady |
$27.00 | Steady | |
US Gulf Israel: Panamax m/t | $45.00 | Up $4.00 |
US Gulf to Egypt: Panamax | $45.00 | Up $4.00 |
US Gulf Turkey: Panamax m/t | $46.00 | Up $4.00 |
US Gulf Morocco: Handi | $45.00 | Up $4.00 |
US Gulf Algeria/Tunisia: Handi | $46.00 | Up $4.00 |
$44.00 | Up $4.00 | |
US Gulf other Med: Handi | $47.00 | Up $4.00 |
US Gulf South Africa: Handi | $43.00 | Up $2.00 |
US Gulf India : Panamax | $52.00 | Steady |
US Gulf to Philippines: Panamax | $52.00 | Steady |
US Gulf Japan: Panamax | $58.00 | Up $4.00 |
US Gulf China: Panamax | $57.00 | Up $4.00 |
US PNW Egypt: Panamax via Panama | $49.00 | Up $6.00 |
US PNW South Africa – 40,000 m/t | $65.00 | Steady |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Japan: Panamax | $33.00 | Up $2.00 |
US PNW China: Panamax | $32.00 | Up $2.00 |
US East Coast Nigeria: Handisize | $45.00 | Steady |
US Lakes – Europe – 30,000 m/t | Closed | |
US Lakes – Morocco – 30,000 m/t | Closed | |
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 | $35.00 | Steady |
France/Germany to India: Panamax | $55.00 | Up $2.00 |
France/Germany to Iran: Panamax | N/A | |
France/Germany to Jordan: Panamax | $41.00 | 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 | $45.00 | Up $2.00 |
Argentina to China: Panamax | $50.00 | Up $5.00 |
Argentina to Japan: Panamax | $51.00 | Up $5.00 |
Argentina to Egypt: Panamax | $52.00 | Steady |
Argentina to Europe: Panamax | $40.00 | Steady |
Argentina to Morocco: Handi | $44.00 | Up $2.00 |
Argentina to Libya: Handi | $46.00 | Up $2.00 |
Argentina to Jordan: Panamax | $55.00 | Steady |
Argentina to Saudi Arabia: Panamax | $62.00 | Steady |
Argentina to Iran: Panamax | N/A | |
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 | $45.00 | Up $2.00 |
Brazil to Algeria/Tunisia: Handi | $37.00 | Down $1.00 |
Brazil to China: Panamax | $49.00 | Up $7.00 |
Brazil to Japan: Panamax | $50.00 | Up $7.00 |
Brazil to South Korea: Panamax | $48.00 | Steady |
Brazil to Europe: Panamax | $37.00 | Steady |
Brazil to Morocco: Handi | $36.00 | Down $1.00 |
Brazil to Iran: Panamax | N/A | |
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 | $42.00 | Steady |
Australia to Europe: Panamax | $55.00 | 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 | $45 Russia | Ukraine $56 |
Black Sea to Indonesia: Panamax | $54 Russia | Ukraine $62 |
Black Sea to Bangladesh: Panamax | $45 Russia | N/A |
Black Sea to Egypt: 40/50,000 | $21 Russia | Ukraine $27 |
Black Sea to Egypt: 30,000 | $22 Russia | Ukraine $27 |
Black Sea to Iran: Panamax | N/A | N/A |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $23 |
Black Sea to East Spain -- Panamax | $23 Russia | Ukraine $19 |
Black Sea to Morocco – Handi | $30 Russia | Ukraine $29 |
Black Sea to Tunisia/Algeria – Handi | $29 Russia | Ukraine $28 |
Black Sea to Jordan: Panamax | $28 Russia | Ukraine $30 |
Black Sea to Libya – Handi | $30 Russia | Ukraine $29 |
Black Sea to Saudi: Panamax | $43 Russia | Ukraine $49 |
Black Sea to Turkey – Handi | $14 Russia | Ukraine $27 |
Black Sea to South Africa – Handi | $55 Russia | N/A |
Black Sea to Nigeria – Handi | N/A | Ukraine $45 |
Russia to Turkey (Izmir)– coaster 5,000 m/t | $46.00 | Steady |
Russia to Egypt – coaster 5,000 m/t | $62.00 | Steady |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index 40% Capesize, 30% Panamax, 30% Supermax | 2010 | Down 110 |
Baltic Capesize Index | 2631 | Down 425 |
Baltic Panamax Index | 1962 | Up 20 |
Baltic Supramax Index | 1386 | Up 48 |
Baltic Handisize Index | 827 | Up 51 |
Freightos/Baltic Container Index | 1716 | Down 213 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR April 2026/June 2026
Wheat, USA Soft Red Winter, US Gulf | USD 263>>255 July |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 279>>275 July |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 235>>225 |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 240>>225 |
Wheat, Romania 12.5 pro | USD 240<<245 |
Wheat, Superior, France | USD 244/247 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 215<<225 |
Wheat, feed, Black Sea | USD 230>>220 |
Barley, France, Rouen port | USD 241/244 |
Barley, feed, Argentina, upriver | USD 235/240 |
Barley, feed, Black Sea, 30,000+ | USD 230/235 |
Barley, feed, Australia | USD 265/270 |
Corn, 2YC FOB NOLA USA | USD 216<<220 |
Corn, 3YC FOB USA Pacific northwest | USD 222<<227 |
Corn, FOB Argentina port, upriver | USD 210<<215 |
Corn, FOB Brazil port | USD 230>>220 |
Corn, FOB France | USD 241/244 Spot |
Corn, FOB Romania | USD 230<<235 |
Corn, FOB Russia | USD 220<<225 |
Corn, FOB Ukraine, 30,000+ m/t | USD 220<<225 |
Sorghum, FOB Argentina port | USD 220<<230 |
Sorghum, FOB Texas | USD 230<<235 |
Soymeal, 48% protein, FOB NOLA | USD 370<<375 |
Soymeal, 48% protein, USA, Rotterdam | USD 400<<405 |
Soymeal, 47% pro, FOB Argentina | USD 335<<340 |
Soymeal, 48% protein, FOB Brazil | USD 335<<340 |
Soybeans, FOB NOLA | USD 470<<475 |
Soybeans, Argentina, FOB | USD 440<<445 |
Soybeans, Brazil, FOB | USD 425<<445 |
Soybeans, Black Sea | USD 420<<425 |
Corn Gluten Meal, USA FOB NOLA | USD 575>>570 |
Corn Gluten Feed, USA FOB NOLA | USD 210>>205 |
DDGS corn, 35 profat, USA FOB NOLA | USD 250>>240 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Chinese New Year is now over --- welcome to the year of the Fire Horse
All the Chinese fishmeal buyers should be back to work on Monday.
Fishing in the Southern Region of Peru was very low this week at only about 1,400 m/t leaving about 100,000 m/t on the quota.
Not much business done this week for small existing stock or for the next fishing season. Trade reports say that there has been interest seen from Germany and Ecuador. Available fishmeal stocks reported as about 15,000 m/t
All the talk in the trade reports this week seems to be about what the “mild” El Nino event will bring. Some reports do suggest that the result could be a smaller fishing quota for the next period if the biomass is affected.
The Iran situation doesn’t seem to have reached the fishmeal business yet but, with ocean freight and container rates moving higher quickly, we should see an increase in CNF prices.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | $1800 |
Danish standard fishmeal | 71% protein | $2800 |
Peru fishmeal | 65% protein | $2220 |
Chile fishmeal | 67% protein | $2240 |
Iceland fishmeal | 71% protein | $2875 |
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 | 1890/1910 | |
66% protein 120 TVN | 1930/1950 | |
67% protein 150 TVN | 2060/2080 | |
67% protein 120 TVN | 2100/2120 | No prices |
67% protein 1000 hist, 120 TVN | 2150/2170 | 2120/2140 |
68% protein 500 hist, 100 TVN | 2200/2220 | 2200/2220 |
Fish oil, crude bulk – feed grade | 3400/3500 | 3100/3200 |
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
