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 – August 29, 2026
Market situation for the week.
· US corn prices --- up by about USD 11 m/t into 2027
· US new crop soybean prices up by about USD 18 m/t into 2027.
· US soymeal prices --- up by USD 24 m/t
· US winter wheat – up by about USD 29 m/t into spring 2027.
· US spring wheat – no change in prices for the week.
US corn prices just keep moving higher while much of the talk in trade reports is about how harvest pressure will affect prices ---- reports are divided on their opinions with some feeling that the bull market in corn will continue with others much more bearish in their comments.
The corn market, like wheat, is being pushed higher by poor EU corn crops and Black Sea hostilities along with weather worries in the USA. The market is waiting to see what the new WASDE report will say about corn.
Both US soybeans and soymeal were very strong this week with increased demand seen from China and the EU ---- continued great exports are expected to keep meal and beans steady to higher in coming days.
US winter wheat prices were higher again this week as demand helped to move prices. Both the situation in the Black Sea and lower wheat crops in the EU led to the rally. Wheat importing countries are looking everywhere for supplies to cover what is normally shipped from the Black Sea. Some trade reports have speculated that the Black Sea shipments will not be back to normal levels until well into 2027 ---- prices don’t look to be about to move lower.
One further note --- Latvia, Lithuania and Estonia have seen their wheat export business increase by 50% since the Black Sea situation deteriorated. Reports say that combined they shipped 1.0 million m/t of wheat in August.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
It is interesting to note that the US Gulf to Rotterdam ocean freight is calculated by EU DGAgri at euro 25.49 m/t which is USD 29.54 m/t, much higher than most trade services report --- DGAgri calculates these numbers daily and publishes them weekly.
US Gulf to Europe: Panamax
|
$26.00
|
Steady
|
$26.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$43.00
|
Up $1.00
|
US Gulf to Egypt: Panamax
|
$43.00
|
Up $1.00
|
US Gulf Turkey: Panamax
|
$44.00
|
Up $1.00
|
US Gulf Morocco: Handi
|
$43.00
|
Steady
|
US Gulf Algeria/Tunisia: Handi
|
$44.00
|
Steady
|
$51.00
|
Steady
|
|
US Gulf other Med: Handi
|
$45.00
|
Steady
|
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
|
$75.00
|
Up $2.00
|
US Gulf China: Panamax
|
$73.00
|
Up $1.00
|
US PNW Egypt: Panamax via Panama
|
$49.00
|
Down $1.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$37.00
|
Steady
|
US PNW China: Panamax
|
$35.00
|
Steady
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes – Europe – 30,000 MT
|
$57.00
|
Down $1.00
|
US Lakes – Morocco – 30,000 MT
|
$63.00
|
Down $1.00
|
|
|
|
France/Germany to Algeria: Handi
|
$33.00
|
Steady
|
France/Germany to Bangladesh 40,000 MT
|
$58.00
|
Steady
|
France/Germany to China: Panamax
|
$70.00
|
Steady
|
France/Germany to Egypt: Panamax
|
$35.00
|
Steady
|
France/Germany to India: Panamax
|
$59.00
|
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
|
$44.00
|
Steady
|
Argentina to China: Panamax – no top off
|
$57.00
|
Up $2.00
|
Argentina to Japan: Panamax – no top off
|
$58.00
|
Up $2.00
|
Argentina to Egypt: Panamax
|
$54.00
|
Steady
|
Argentina to Europe: Panamax
|
$41.00
|
Steady
|
Argentina to Morocco: Handi
|
$43.00
|
Steady
|
Argentina to Libya: Handi
|
$44.00
|
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
|
Steady
|
Argentina to Tunisia: Handi
|
$44.00
|
Steady
|
|
|
|
Brazil to Algeria/Tunisia: Handi
|
$37.00
|
Steady
|
Brazil to China: Panamax
|
$56.00
|
Up $2.00
|
Brazil to Japan: Panamax
|
$57.00
|
Up $2.00
|
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
|
$45.00
|
Steady
|
Australia to Europe: Panamax
|
$58.00
|
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
|
$80 Russia
|
Ukraine $57
|
Black Sea to Indonesia: Panamax
|
$82 Russia
|
Ukraine $63
|
Black Sea to Bangladesh: Panamax
|
$80 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$58 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$60 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
N/A
|
N/A
|
Black Sea to Europe: Panamax
|
$37 Russia
|
Ukraine $24
|
Black Sea to East Spain – Panamax
|
$31 Russia
|
Ukraine $18
|
Black Sea to Morocco – Handi
|
$76 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$75 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$62 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$76 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$69 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$57 Russia
|
Ukraine $29
|
Black Sea to South Africa – Handi
|
$55 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
No info
|
|
Russia to Egypt – coaster 5,000 MT
|
No info
|
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
3186
|
Up 345
|
Baltic Capesize Index
|
5336
|
Up 784
|
Baltic Panamax Index
|
2315
|
Up 212
|
Baltic Supramax Index
|
1647
|
Up 7
|
Baltic Handisize Index
|
881
|
Up 7
|
|
|
|
Freightos/Baltic Container Index
|
3600
|
Down 3
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR September 2026/November 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 303<<314
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 344<<352
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 220<<225
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 215<<220
|
Wheat, Romania 12.5 pro
|
USD 285<<290
|
Wheat, Superior, France
|
USD 292/295 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 265>>260
|
Wheat, feed, Black Sea
|
USD 215<<220
|
|
|
Barley, France, Rouen port
|
USD 268/271 spot
|
Barley, feed, Argentina, upriver
|
USD 265/270
|
Barley, feed, Black Sea, 30,000+
|
USD 200/210
|
Barley, feed, Australia
|
USD 280/285
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 240<<255
|
Corn, 3YC FOB USA Pacific northwest
|
USD 255<<270
|
Corn, FOB Argentina port, upriver
|
USD 220<<235
|
Corn, FOB Brazil port
|
USD 240<<250
|
Corn, FOB France
|
USD 332/335 spot
|
Corn, FOB Romania
|
USD 265>>255
|
Corn, FOB Russia
|
USD 215<<220
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<235
|
Sorghum, FOB Argentina port
|
USD 220<<245
|
Sorghum, FOB Texas
|
USD 250<<265
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 400<<410
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 430>>440
|
Soymeal, 47% pro, FOB Argentina
|
USD 390<<400
|
Soymeal, 48% protein, FOB Brazil
|
USD 400>>405
|
|
|
Soybeans, FOB NOLA
|
USD 515<<520
|
Soybeans, Argentina, FOB
|
USD 500<<515
|
Soybeans, Brazil, FOB
|
USD 525>>510
|
Soybeans, Black Sea
|
No prices
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 685<<690
|
Corn Gluten Feed, USA FOB NOLA
|
USD 235<<240
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 260<<270
|
SECTION 2 --- FISHMEAL COMMENTS AND PRICES: PERUVIAN “INDICATION” FISHMEAL PRICES:
Central/North Peru details: The 2026 fishing period is officially closed as of August 21 2026 – final numbers are: 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: No change this week ---- New quota 251,000 m/t, landed 4,524 m/t, fishmeal produced 1,131 – balance on quota 246,476 m/t to December 31, 2026.
(fishmeal and fishoil production are estimated)
Peru declared a “State of Emergency” for 120 days “due to the impacts and risks associated with the 2026-27 El Nino event”, this for the fisheries and aquaculture sectors. Emergency plans will be put forward within 15 business days.
According to information published by MSI Ceres the ocean water temperature in significant areas of Peru is up by 4.0 to 6.2C degrees ---- certainly a major increase in water temperature.
Unfulfilled shipments for sales booked that will be moved into next season are reported to be about 75,000 m/t of fishmeal which is about 315,000 m/t of catch.
China’s local fishmeal production is said to be good which is putting pressure on prices for fishmeal stocks on hand.
Peru exported 479,000 m/t of fishmeal to the end of July 2026 which is lower by 48% from the 920,000 m/t shipped during the same period in 2025. China shipments dropped from 752,000 m/t in 2025 to 335,000 m/t in 2026. Overall shipments to Asia are down by 54%.
China’s fishmeal imports in 2026 to the end of July show a drop of 26% ---- from 1.2 mm/t in 2025 to 894,000 m/t in 2026. Fishmeal imports from Peru are down by 43% from 601,000 in 2025 to 341,000 m/t in 2026.
According to statistics, total world fish landings in major countries is down by 55% in 2026 and 49% lower than the 5-year average.
In general, the fishmeal trade thinks that the El Nino event will bring tough times.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2920
|
Danish standard fishmeal
|
71% protein
|
$3850
|
Peru fishmeal
|
65% protein
|
$3290
|
Chile fishmeal
|
67% protein
|
$3320
|
Iceland fishmeal
|
71% protein
|
$3980
|
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
|
|
|
|
65% protein standard steam
|
3300/3400
|
|
66% protein 120 TVN
|
No prices
|
|
67% protein 150 TVN
|
No prices
|
|
67% protein 120 TVN
|
3500/3600
|
3400/3420
|
67% protein 1000 hist, 120 TVN
|
3550/3650
|
3450/3470
|
68% protein 500 hist, 100 TVN
|
3600/3700
|
3500/3520
|
|
|
|
Fish oil, crude bulk – feed grade
|
No prices
|
8000/8500
|
Fish oil, crude in drums
|
No prices
|
No prices
|
Fish oil, flexi tank
|
No prices
|
No prices
|
Fish oil, Omega 3: 28%EPA/DHA
|
12,000+
|
No prices
|
INFORMATION: TVN = total volatile nitrogen, hist = histamine
Copyright © 2026 Wayne S. Bacon
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