International Grain Future Freight (May.31-Jun.2)

Jun 12, 2017

Week 22, 2017 (May.31-Jun.2), 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 three times due to the Dragon Boat Festival, and the trend is shown in the chart below.

The previous plantation progress of U.S. soybean was slower than the past average once. Recently, the weather turned to became good and the speed of sowing was accelerated. The plantation rate of soybean was 67% which was 53% last week, 71% last year and 68% in five years average. The emergence rate was 37% which was 19% last week, 42% last year and 40% in five years average.

In terms of the shipping market, the future freight rate decreased continuously from May.31 to Jun.2 (Wed. to Fri.), and the decrease was below 0.5% in every release day. And it was closed at $34.13/ton with a decrease of 0.73% from May.26 (the last release day of week 21).