International Grain Future Freight (Jul.10-Jul.14)

Jul 26, 2017

Week 28, 2017 (Jul.10-Jul.14), 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 drought weather put pressure on the growth of U.S soybean, the report of U.S Agriculture Department showed, the good rate was 62% this week and 64% for last week, whereas that of the same period of last year was 71%. The emergence rate was 34% this week and 18% for last week, whereas it was 37% for the same period of last year.

In terms of the shipping market, the future freight rate market kept increasing slightly from Jul.10 to Jul.13 (Mon. to Thu.) and increased by $0.56/ton in total in the first four release days. The rate kept stable and was closed at $35.63/ton on Jul.14 (Fri.) with an increase of 1.60% from Jul.7 (the last release day of week 27).