International Grain Future Freight (Jun.5-Jun.9)

Jun 15, 2017

Week 23,2017 (Jun.5-Jun.9), 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.

Now the plantation rate of soybean was 83% in US and it was 67% in last week and 82% of last year and the five years average was 79%. The emergence rate was 58% and it was 37% in last week and 62% of last year and the five years average was 59%. The weather forecast showed that there would be high temperature weather in the middle-west area and Great Plains of U.S which might affect the growth of newly-planted crop.

In terms of the shipping market, the future freight rate market kept decreasing trend at the beginning of this week and then kept stable. The future freight rate decreased slightly from Jun.5 to Jun.7 (Mon. to Wed.) and the decrease was 0.92%. It kept stable on Jun.8 (Thu.). Finally, it was closed at $33.88/ton on Jun.9 (Fri.) with a decrease of 0.73%from Jun.2 (the last releasing day of week 22).