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Email: wbacon@hammersmith.biz
WWW: hammersmithltd.blogspot.com
WEEKLY USA GRAIN AND PROTEIN REPORT – April 04, 2026
This week was a holiday week in many parts of the world for Easter Holidays many countries were closed on Friday April 03 with others closed on Monday April 05. The US was closed on Friday.
Corn prices were down about USD 4 m/t for the week with US soybeans down by about USD 2 m/t and soymeal unchanged on the week. US winter wheat was down by about USD 6 m/t with spring wheat prices unchanged.
Weather for the US corn belt was rainy for most areas with more rain to come and warmer temperatures expected --- looks like things could be getting better for planting. However, there continues to be very dry conditions for winter wheat in the central USA ---- but some rainfall is expected although drought will continue in the southern wheat area of the US.
Next week is USDA WASDE week again which will set price direction for a bit.
The USDA introduced a new Weekly Export Sales report this week which looks to have quite a long learning curve. The new report doesn’t seem to be too user-friendly but this is only the first week. The full report is something like 226 pages.
Estimated Bulk Grain Freight in USD per m/t, basis heavy grains.
Argentina freight rates to North Africa are lower this week due to an increase in actual freight fixtures to the region ---- previous freight rates had been estimated rates as there were few actual shipments.
US Gulf to Europe: Panamax | $29.00 | Steady |
$29.00 | Steady | |
US Gulf Israel: Panamax m/t | $34.00 | Steady |
US Gulf to Egypt: Panamax | $34.00 | Steady |
US Gulf Turkey: Panamax m/t | $35.00 | Steady |
US Gulf Morocco: Handi | $34.00 | Steady |
US Gulf Algeria/Tunisia: Handi | $35.00 | Steady |
$40.00 | Steady | |
US Gulf other Med: Handi | $36.00 | Steady |
US Gulf South Africa: Handi | $43.00 | Steady |
US Gulf India : Panamax | $52.00 | Steady |
US Gulf to Philippines: Panamax | $52.00 | Steady |
US Gulf Japan: Panamax | $64.00 | Up $3.00 |
US Gulf China: Panamax | $63.00 | Up $3.00 |
US PNW Egypt: Panamax via Panama | $46.00 | Down $2.00 |
US PNW South Africa – 40,000 m/t | $60.00 | Steady |
US PNW Philippines: Panamax | $34.00 | Steady |
US PNW Japan: Panamax | $34.00 | Steady |
US PNW China: Panamax | $33.00 | Steady |
US East Coast Nigeria: Handisize | $41.00 | 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 | $33.00 | Down $2.00 |
France/Germany to India: Panamax | $67.00 | Up $1.00 |
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 | $41.00 | Down $5.00 |
Argentina to China: Panamax | $54.00 | Down $1.00 |
Argentina to Japan: Panamax | $55.00 | Down $1.00 |
Argentina to Egypt: Panamax | $54.00 | Steady |
Argentina to Europe: Panamax | $42.00 | Steady |
Argentina to Morocco: Handi | $40.00 | Down $5.00 |
Argentina to Libya: Handi | $42.00 | Down $5.00 |
Argentina to Jordan: Panamax | $57.00 | Steady |
Argentina to Saudi Arabia: Panamax | $64.00 | Steady |
Argentina to Iran: Panamax | N/A | |
Argentina to Indonesia: Panamax | $60.00 | Steady |
Argentina to South Africa: Panamax | $37.00 | Steady |
Argentina to Kenya: Handi | $56.00 | Steady |
Argentina to Spain: Panamax | $42.00 | Steady |
Argentina to Tunisia: Handi | $41.00 | Down $5.00 |
Brazil to Algeria/Tunisia: Handi | $37.00 | Steady |
Brazil to China: Panamax | $52.00 | Steady |
Brazil to Japan: Panamax | $53.00 | Steady |
Brazil to South Korea: Panamax | $48.00 | Steady |
Brazil to Europe: Panamax | $37.00 | Steady |
Brazil to Morocco: Handi | $36.00 | Steady |
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 | $49.00 | Steady |
Australia to Europe: Panamax | $63.00 | 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 | $50 Russia | Ukraine $57 |
Black Sea to Indonesia: Panamax | $61 Russia | Ukraine $65 |
Black Sea to Bangladesh: Panamax | $50 Russia | N/A |
Black Sea to Egypt: 40/50,000 | $24 Russia | Ukraine $28 |
Black Sea to Egypt: 30,000 | $25 Russia | Ukraine $27 |
Black Sea to Iran: Panamax | N/A | N/A |
Black Sea to Europe: Panamax | $28 Russia | Ukraine $24 |
Black Sea to East Spain -- Panamax | $23 Russia | Ukraine $19 |
Black Sea to Morocco – Handi | $35 Russia | Ukraine $29 |
Black Sea to Tunisia/Algeria – Handi | $34 Russia | Ukraine $28 |
Black Sea to Jordan: Panamax | $28 Russia | Ukraine $30 |
Black Sea to Libya – Handi | $35 Russia | Ukraine $29 |
Black Sea to Saudi: Panamax | $43 Russia | Ukraine $49 |
Black Sea to Turkey – Handi | $23 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 | $53.00 | Steady |
Russia to Egypt – coaster 5,000 m/t | $71.00 | Steady |
Ukraine to Turkey – coaster 5,000 m/t | No info | |
Ukraine to Egypt – coaster 5,000 m/t | No info | |
Baltic Dry Index 40% Capesize, 30% Panamax, 30% Supermax | 2066 | Up 35 |
Baltic Capesize Index | 3086 | Up 54 |
Baltic Panamax Index | 1784 | Up 28 |
Baltic Supramax Index | 1224 | Up 18 |
Baltic Handisize Index | 695 | Down 18 |
Freightos/Baltic Container Index | 1867 | Up 97 |
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR May 2026/July 2026
Wheat, USA Soft Red Winter, US Gulf | USD 257>>252 |
Wheat, USA Hard Red Winter 11 protein, US Gulf | USD 274<<277 |
Wheat, Ukraine 11.5 pro, 30,000+ m/t | USD 235>>230 |
Wheat, Russia 12.5 pro, 30,000+ m/t | USD 240>>230 |
Wheat, Romania 12.5 pro | USD 240>>245 |
Wheat, Superior, France | USD 239/242 spot |
Wheat, milling, 12.0%, Argentina, Upriver | USD 230<<235 |
Wheat, feed, Black Sea | USD 225>>220 |
Barley, France, Rouen port | USD 238/241 spot |
Barley, feed, Argentina, upriver | USD 235/240 |
Barley, feed, Black Sea, 30,000+ | USD 235/240 |
Barley, feed, Australia | USD 270/275 |
Corn, 2YC FOB NOLA USA | USD 215<<220 |
Corn, 3YC FOB USA Pacific northwest | USD 220<<230 |
Corn, FOB Argentina port, upriver | USD 210>>205 |
Corn, FOB Brazil port | USD 230>>220 |
Corn, FOB France | USD 248/251 Spot |
Corn, FOB Romania | USD 230<<235 |
Corn, FOB Russia | USD 220<<225 |
Corn, FOB Ukraine, 30,000+ m/t | USD 225<<230 |
Sorghum, FOB Argentina port | USD 225<<230 |
Sorghum, FOB Texas | USD 225<<230 |
Soymeal, 48% protein, FOB NOLA | USD 380>>375 |
Soymeal, 48% protein, USA, Rotterdam | USD 410<<405 |
Soymeal, 47% pro, FOB Argentina | USD 345>>340 |
Soymeal, 48% protein, FOB Brazil | USD 345>>335 |
Soybeans, FOB NOLA | USD 460<<465 |
Soybeans, Argentina, FOB | USD 415<<435 |
Soybeans, Brazil, FOB | USD 435<<455 |
Soybeans, Black Sea | USD 420<<430 |
Corn Gluten Meal, USA FOB NOLA | USD 650>>630 |
Corn Gluten Feed, USA FOB NOLA | USD 220>>215 |
DDGS corn, 35 profat, USA FOB NOLA | USD 270>>255 |
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
The new North-Central fishing quota has been announced at 1,914,049 MT of catch with no start date mentioned but fishing expected to start on April 09 --- this should yield about 455,000 m/t of fishmeal at full quota.
As has been the normal situation recently there has been no catch in the South Region of Peru – the remaining quota stands at 97,500 m/t.
This week has been only a three day work week in Peru with everything closed on Thursday and Friday for Easter.
New business has been limited in Peru this week but quoted prices have been very strong. We will have to see what effect the new quota has on prices next week ----- will they be lower, steady or higher.
Presales against next quota are reported to be about 150,000 m/t which is about one third of fishmeal production at full quota.
Peru fishmeal exports for 2026 to the end of February reached 242,000 m/t with 187,600 m/t going to China – 16,400 m/t to Denmark, 15,000 m/t to Germany, 8,900 m./t to Japan and 8,900 m/t to Ecuador --- which covers 98% of exports.
European fishmeal prices – FOB North German port.
Type | Protein % | Price per m/t USD |
Standard Herring | 64% protein | $1895 |
Danish standard fishmeal | 71% protein | $2870 |
Peru fishmeal | 65% protein | $2330 |
Chile fishmeal | 67% protein | $2420 |
Iceland fishmeal | 71% protein | $2895 |
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 | 2270/2290 | |
66% protein 120 TVN | 2320/2340 | |
67% protein 150 TVN | 2370/2390 | |
67% protein 120 TVN | 2420/2440 | 2420/2440 |
67% protein 1000 hist, 120 TVN | 2470/2490 | 2470/2490 |
68% protein 500 hist, 100 TVN | 2520/2540 | 2520/2540 |
Fish oil, crude bulk – feed grade | 4500/4600 | 3500/3600 |
Fish oil, crude in 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: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
