International Grain Future Freight (IG (May.22-May.26)

Jun 2, 2017

Week 21,2017 (May 22-May 26), 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.

There was raindrop in the middle-west America but the speed of plantation of soybean accelerated to recover the loss of rain according to the report of U.S. Agriculture Department. The plantation rate of soybean was 53% which was higher than the five years average 52%. The emergence rate was 19% and the last week was 8%.

In terms of the shipping market, the future freight rate market decreased continuously $0.12/ton on May.22 (Mon.). From May.23 to May.26 (Tue. to Fri.), the future freight rate kept at $34.38/ton. And it decreased 0.36% from May.19 (the last release day of week 20).