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 – September 05, 2026
Market situation for the week.
· US corn prices --- no change in prices this week
· US new crop soybean prices up by about USD 8 m/t into 2027.
· US soymeal prices --- up by USD 6 m/t
· US winter wheat – down by about USD 16 m/t into spring 2027.
· US spring wheat – no change in prices for the week.
Next week is US Labor Day week with everything closed on Monday 07, 2026 --- the September WASDE reports will be issued on Friday 11, 2026.
US corn prices are expected to see some harvest pressure in coming days and next week’s WASDE could add to the pressure. Of course, with the world situation for corn supply very iffy looking this week perhaps harvest pressure will not have too much effect on export corn prices. Drought, Black Sea trouble and EL Nino event are all worries for world corn.
Soybean prices moved higher again this week on good demand – both domestic and export demand. Chinese buying is said to be strong with new crop sales reported to be about double last year’s level at this time. According to trade reports there is still some concern over soybean yields as the good/excellent crop rate has dropped.
US winter wheat prices are reported to have been pushed lower by the possibility of talks between Russia and Ukraine that could ease the Black Sea supply situation or even a little hope for something more substantial between Russia and Ukraine that might end the 4-year conflict.
Estimated Bulk Grain Freight in USD per MT, basis heavy grains.
US Gulf to Europe: Panamax
|
$26.00
|
Steady
|
$26.00
|
Steady
|
|
US Gulf Israel: Panamax
|
$43.00
|
Steady
|
US Gulf to Egypt: Panamax
|
$43.00
|
Steady
|
US Gulf Turkey: Panamax
|
$44.00
|
Steady
|
US Gulf Morocco: Handi
|
$44.00
|
Up $1.00
|
US Gulf Algeria/Tunisia: Handi
|
$45.00
|
Up $1.00
|
$51.00
|
Steady
|
|
US Gulf other Med: Handi
|
$46.00
|
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
|
$76.00
|
Up $1.00
|
US Gulf China: Panamax
|
$75.00
|
Up $2.00
|
US PNW Egypt: Panamax via Panama
|
$51.00
|
Up $2.00
|
US PNW South Africa – 40,000 MT
|
$61.00
|
Steady
|
US PNW Philippines: Panamax
|
$36.00
|
Steady
|
US PNW Japan: Panamax
|
$38.00
|
Up $1.00
|
US PNW China: Panamax
|
$36.00
|
Up $1.00
|
US East Coast Nigeria: Handisize
|
$41.00
|
Steady
|
US Lakes, Duluth – Europe – 30,000 MT
|
$58.00
|
Up $1.00
|
US Lakes, Duluth – Morocco – 30,000 MT
|
$64.00
|
Up $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
|
$60.00
|
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
|
Steady
|
Argentina to Japan: Panamax – no top off
|
$58.00
|
Steady
|
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
|
$55.00
|
Down $1.00
|
Brazil to Japan: Panamax
|
$56.00
|
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
|
$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
|
$85 Russia
|
Ukraine $56
|
Black Sea to Indonesia: Panamax
|
$85 Russia
|
Ukraine $63
|
Black Sea to Bangladesh: Panamax
|
$80 Russia
|
N/A
|
Black Sea to Egypt: 40/50,000
|
$80 Russia
|
Ukraine $28
|
Black Sea to Egypt: 30,000
|
$80 Russia
|
Ukraine $27
|
Black Sea to Iran: Panamax
|
N/A
|
N/A
|
Black Sea to Europe: Panamax
|
$42 Russia
|
Ukraine $27
|
Black Sea to East Spain – Panamax
|
$36 Russia
|
Ukraine $24
|
Black Sea to Morocco – Handi
|
$96 Russia
|
Ukraine $29
|
Black Sea to Tunisia/Algeria – Handi
|
$95 Russia
|
Ukraine $28
|
Black Sea to Jordan: Panamax
|
$82 Russia
|
Ukraine $30
|
Black Sea to Libya – Handi
|
$96 Russia
|
Ukraine $29
|
Black Sea to Saudi: Panamax
|
$82 Russia
|
Ukraine $57
|
Black Sea to Turkey – Handi
|
$57 Russia
|
Ukraine $29
|
Black Sea to South Africa – Handi
|
$75 Russia
|
N/A
|
Black Sea to Nigeria – Handi
|
N/A
|
Ukraine $45
|
|
|
|
Russia to Turkey (Izmir)– coaster 5,000 MT
|
No info
|
|
Russia to Egypt – coaster 5,000 MT
|
No info
|
|
Ukraine to Turkey – coaster 5,000 MT
|
No info
|
|
Ukraine to Egypt – coaster 5,000 MT
|
No info
|
|
|
|
|
Baltic Dry Index
40% Capesize, 30% Panamax, 30% Supermax
|
3628
|
Up 442
|
Baltic Capesize Index
|
6427
|
Up 1091
|
Baltic Panamax Index
|
2448
|
Up 133
|
Baltic Supramax Index
|
1675
|
Up 28
|
Baltic Handisize Index
|
900
|
Up 19
|
|
|
|
Freightos/Baltic Container Index
|
3484
|
Down 116
|
|
|
|
All shipments in bulk grain vessels unless stated otherwise.
(NOLA is New Orleans, Louisiana, USA.)
FOB port or location specified. Prices in US$, in metric tons:
ALL PRICES ARE FOR October 2026<<December 2026
Wheat, USA Soft Red Winter, US Gulf
|
USD 303<<316
|
Wheat, USA Hard Red Winter 11 protein, US Gulf
|
USD 337<<344
|
Wheat, Ukraine 11.5 pro, 30,000+ MT
|
USD 220<<225
|
Wheat, Russia 12.5 pro, 30,000+ MT
|
USD 210<<220
|
Wheat, Romania 12.5 pro
|
USD 285<<290
|
Wheat, Superior, France
|
USD 287/290 spot
|
Wheat, milling, 12.0%, Argentina, Upriver
|
USD 255<<260
|
Wheat, feed, Black Sea
|
USD 210<<215
|
|
|
Barley, France, Rouen port
|
USD 270/273 spot
|
Barley, feed, Argentina, upriver
|
USD 240/245
|
Barley, feed, Black Sea, 30,000+
|
USD 200/210
|
Barley, feed, Australia
|
USD 275/280
|
|
|
Corn, 2YC FOB NOLA USA
|
USD 250<<255
|
Corn, 3YC FOB USA Pacific northwest
|
USD 265<<270
|
Corn, FOB Argentina port, upriver
|
USD 225<<235
|
Corn, FOB Brazil port
|
USD 240<<250
|
Corn, FOB France
|
USD 331/334 spot
|
Corn, FOB Romania
|
USD 265>>255
|
Corn, FOB Russia
|
USD 210<<215
|
Corn, FOB Ukraine, 30,000+ MT
|
USD 225<<235
|
Sorghum, FOB Argentina port
|
USD 215<<230
|
Sorghum, FOB Texas
|
USD 265<<270
|
|
|
Soymeal, 48% protein, FOB NOLA
|
USD 415<<420
|
Soymeal, 48% protein, USA, Rotterdam
|
USD 445>>450
|
Soymeal, 47% pro, FOB Argentina
|
USD 400<<410
|
Soymeal, 48% protein, FOB Brazil
|
USD 400>>415
|
|
|
Soybeans, FOB NOLA
|
USD 525<<530
|
Soybeans, Argentina, FOB
|
USD 515<<520
|
Soybeans, Brazil, FOB
|
USD 535>>510
|
Soybeans, Black Sea
|
No prices
|
|
|
Corn Gluten Meal, USA FOB NOLA
|
USD 710<<720
|
Corn Gluten Feed, USA FOB NOLA
|
USD 240<<245
|
DDGS corn, 35 profat, USA FOB NOLA
|
USD 275<<280
|
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.
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)
Buyers who didn’t get their fishmeal contracts shipped in the recent season are moving things to the next season but there is still a great deal of concern that the El Nino event will affect the new season which could result in lower anchovy catch in the season to come with reduced fishmeal and fishoil production --- the El Nino effect is still speculation but it is a worry.
There has been a little discussion in trade reports that the price level for Peru Super Prime fishmeal for next season could start off at about USD 3300 m/t.
According to Peru reports there is nothing left to sell and few unshipped orders that can be loaded, perhaps 5,000 m/t or so . August fishmeal shipments are estimated to have been at about 9,900 m/t, a very low shipment month.
Trade papers are expressing hope that all goes well with research cruises so that the next fishing season can begin in late October ---- fingers crossed. There are also some comments and concerns that the El Nino situation could make 2027 also a poor fishing/production year with the industry not fully recovering until 2028.
European fishmeal prices – FOB North German port.
Type
|
Protein %
|
Price per
MT USD
|
Standard Herring
|
64% protein
|
$2925
|
Danish standard fishmeal
|
71% protein
|
$3850
|
Peru fishmeal
|
65% protein
|
$3300
|
Chile fishmeal
|
67% protein
|
$3340
|
Iceland fishmeal
|
71% protein
|
$4020
|
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
