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 – July 04, 2026
Market situation for the week.
· US corn prices --- no change, August to November.
· US new crop soybean prices down by about USD 2 m/t after September.
· US soymeal prices --- no change on the week.
· US winter wheat – up by about USD 7 m/t.
· US spring wheat – up by about USD 5 m/t.
Markets were more quiet than usual this week – perhaps getting ready for the USA’s 250th birthday today.
The USA weather forecast is for very hot weather for a few days with limited rainfall but most experts don’t seem to be ready to call the situation as drastic --- it will all depend on how long the heat lasts and how little the rainfall is.
The EU seems to be having a more serious heat wave --- only more serious because it started sooner and has already done damage. France, which is a major supplier of corn to much of the EU and the UK, could see corn production down by 2 to 4 million m/t which would certainly be a supply problem for the EU in 2027 as stocks dwindle. The EU’s corn import requirements may increase by 2+ million m/t in 2027. The USA should be in a good position to supply more corn to the EU unless the expected US heat wave is as bad as the EU one has been.
Not much more to say about the quiet US markets this week --- things will probably be more exciting next week.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$27.00
|
Steady
|
$27.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$42.00
|
Steady
|
US Gulf to Egypt: Panamax
|
$42.00
|
Steady
|
US Gulf Turkey: Panamax
|
$43.00
|
Steady
|
US Gulf Morocco: Handi
|
$43.00
|
Up $1.00
|
US Gulf Algeria/Tunisia: Handi
|
$44.00
|
Up $1.00
|
$51.00
|
Up $1.00
|
|
US Gulf other Med: Handi
|
$45.00
|
Up $1.00
|
US Gulf South Africa: Handi
|
$52.00
|
Steady
|
US Gulf India : Panamax
|
$52.00
|
Steady
|
US Gulf to Philippines: Panamax
|
$52.00
|
Steady
|
US Gulf Japan: Panamax
|
$69.00
|
Down $1.00
|
US Gulf China: Panamax
|
$68.00
|
Steady
|
US PNW Egypt: Panamax via Panama
|
$50.00
|
Up $3.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$36.00
|
Steady
|
US PNW China: Panamax
|
$34.00
|
Steady
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes – Europe – 30,000 MT
|
$59.00
|
Steady
|
US Lakes – Morocco – 30,000 MT
|
$65.00
|
Steady
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$56.00
|
Steady
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$33.00
|
Steady
|
France/Germany to India: Panamax
|
$57.00
|
Down $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
|
$44.00
|
Steady
|
Argentina to China: Panamax – no top off
|
$53.00
|
Down $1.00
|
Argentina to Japan: Panamax – no top off
|
$54.00
|
Down $1.00
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$41.00
|
Down $2.00
|
Argentina to Morocco: Handi
|
$43.00
|
Steady
|
Argentina to Libya: Handi
|
$45.00
|
Steady
|
Argentina to Jordan: Panamax
|
$58.00
|
Steady
|
Argentina to Saudi Arabia: Panamax
|
$65.00
|
Steady
|
Argentina to Iran: Panamax
|
N/A
|
|
Argentina to Indonesia: Panamax
|
$60.00
|
Steady
|
Argentina to South Africa: Panamax
|
$38.00
|
Steady
|
Argentina to Kenya: Handi
|
$55.00
|
Steady
|
Argentina to Spain: Panamax
|
$41.00
|
Down $2.00
|
Argentina to Tunisia: Handi
|
$44.00
|
Steady
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$52.00
|
Down $1.00
|
Brazil to Japan: Panamax
|
$53.00
|
Down $1.00
|
Brazil to South Korea: Panamax
|
$58.00
|
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 MT
|
$64.00
|
Steady
|
Brazil to Spain: Panamax
|
$37.00
|
Steady
|
Brazil to Turkey/Egypt: Panamax
|
$59.00
|
Steady
|
|
|
|
Australia to Saudi: Panamax
|
$44.00
|
Up $1.00
|
Australia to Europe: Panamax
|
$57.00
|
Up $2.00
|
|
|
|
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
|
$47 Russia
|
Ukraine $57
|
Black Sea to Indonesia: Panamax
|
$59 Russia
|
Ukraine $65
|
Black Sea to Bangladesh: Panamax
|
$47 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$18 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$18 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
$64 Russia
|
Ukraine $72
|
Black Sea to Europe: Panamax
|
$28 Russia
|
Ukraine $24
|
Black Sea to East Spain – Panamax
|
$24 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
|
$29 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$29 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$63 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$22 Russia
|
Ukraine $26
|
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 MT
|
$26.00
|
Up $2.00
|
Russia to Egypt – coaster 5,000 MT
|
$45.00
|
Up $3.00
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
2717
|
Up 193
|
Baltic Capesize Index
|
3640
|
Up 460
|
Baltic Panamax Index
|
2203
|
Up 93
|
Baltic Supramax Index
|
1673
|
Up 3
|
Baltic Handisize Index
|
942
|
Up 8
|
|
|
|
Freightos/Baltic Container Index
|
3402
|
Up 503
|
|
|
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR July 2026/September 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 248<<268 Oct
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 288<<300 Oct
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 225<<230
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 225<<230
|
Wheat, Romania 12.5 pro
|
USD 230<<235
|
Wheat, Superior, France
|
USD 236/239 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 230<<235
|
Wheat, feed, Black Sea
|
USD 220<<225
|
|
|
Barley, France, Rouen port
|
USD 220/223 spot
|
Barley, feed, Argentina, upriver
|
USD 225/230
|
Barley, feed, Black Sea, 30,000+
|
USD 220/225
|
Barley, feed, Australia
|
USD 265/270
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 207<<222
|
Corn, 3YC FOB USA Pacific northwest
|
USD 231<<237
|
Corn, FOB Argentina port, upriver
|
USD 205<<210
|
Corn, FOB Brazil port
|
USD 215>>220
|
Corn, FOB France
|
USD 278/281
|
Corn, FOB Romania
|
USD 240>>225
|
Corn, FOB Russia
|
USD 230>>220
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 210<<225
|
Sorghum, FOB Argentina port
|
USD 225<<235
|
Sorghum, FOB Texas
|
USD 215<<223
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 375>>360
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 405>>390
|
Soymeal, 47% pro, FOB Argentina
|
USD 330<<335
|
Soymeal, 48% protein, FOB Brazil
|
USD 340<<345
|
|
|
Soybeans, FOB NOLA
|
USD 455<<465
|
Soybeans, Argentina, FOB
|
USD 440<<465
|
Soybeans, Brazil, FOB
|
USD 460<<475
|
Soybeans, Black Sea
|
USD 440<<455
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 630<<640
|
Corn Gluten Feed, USA FOB NOLA
|
USD 180>>170
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 220<<225
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Central/North Peru details: Quota 1,914,000 m/t, landed 471,100 m/t, fishmeal produced 116,900 m/t, fishoil produced 7,550 m/t --- balance on quota 1,442,900 m/t.
South Peru details : New quota 251,000 m/t, landed 00 m/t, fishmeal produced 000 – balance on quota 251,000 m/t to December 31 2026.
( fishmeal and fishoil production is estimated)
Still no fishing allowed in the Central/North region ---- trade reports point out that there has been no fishing in 49 days. We are all just waiting for the latest IMARPE results and recommendations.
Nothing new to say on prices in Peru as there is nothing to sell.
Peru’s fishmeal exports to the end of May are at 400,000 m/t which is 31% lower than last year’s 580,000 m/t.
Fingers are crossed by everyone in hopes of at least a few days fishing in July.
Peru’s new President – Ms. Keiko Fujimore – will be “official” on July 28 2026 ---- good luck to her as she is facing a tough time.
There has been a lot of international interest in fishmeal alternatives due to the situation in Peru and the record fishmeal price levels. Protein prices for other animal proteins and items like corn gluten meal have been pushed higher as buyers rush to find alternative protein supplies to replace fishmeal. Specific markets like aquaculture and pet food have been hit hard by the high fishmeal prices but most have moved into other proteins where possible. Soymeal is the most popular replacement but it is not always a good replacement to high-protein levels and high amino acids in fishmeal.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2095
|
Danish standard fishmeal
|
71% protein
|
$3290
|
Peru fishmeal
|
65% protein
|
$2950
|
Chile fishmeal
|
67% protein
|
$2850
|
Iceland fishmeal
|
71% protein
|
$3405
|
ALL PRICES SHOWN ARE IN CONTAINER, ON VESSEL, AT ORIGIN --- US DOLLARS
Minimum shipment of 200 MT for fishmeal
Specification
|
Price per MT FOB Vessel Peru port
|
Price per MT
Chile port
|
|
Next fishing season
|
|
65% protein standard steam
|
2900/2920
|
|
66% protein 120 TVN
|
2920/2940
|
|
67% protein 150 TVN
|
2970/2990
|
|
67% protein 120 TVN
|
3020/3040
|
3020/3040
|
67% protein 1000 hist, 120 TVN
|
3070/3090
|
3050/3070
|
68% protein 500 hist, 100 TVN
|
3150/3170
|
3150/3170
|
|
|
|
Fish oil, crude bulk – feed grade
|
7500/7800
|
6800/6900
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
10,500+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
