International Grain Future Freight (May.15-May.19)

Jun 2, 2017

Week 20,2017 (May 15-May 19), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Oct. to Dec. in 2017, and the trend is shown in the chart below.

The plantation of U.S. soybean was pushed steadily and the speed of plantation and the status of growth were normal. The week report of U.S. Agriculture Department showed that the rowing progress in the 18 main production areas of soybean was 32%, which was 14% last week. The rowing progress of the same period of last year was 34% and the five-year average was 32%. The emergence rate was 8% and the last year was 9% and the five-year average was 9%.

In terms of the shipping market, the future freight rate market kept stable. On May.15 (Mon.), the future freight rate decreased $0.06/ton. From May.16 to May.17 (Tue. to Wed.), the future freight kept at $34.44/ton. From May.18 to May.19 (Thu. to Fri.), the freight rate fluctuated in a narrow range. And it was closed at $34.50/ton which was the same with May.12 (the last releasing day of week 19).