International Grain Future Freight (Jul.17-Jul.21)

Jul 28, 2017

Week 29, 2017 (Jul.17-Jul.21), 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 report of U.S Agriculture Department showed, the good rate of U.S soybean was still below the average and it was 61% this week and 62% for last week, whereas that of the same period of last year was 71%. But the increased planting area increased the predicted yield of soybean.

In terms of the shipping market, the future freight rate kept increase. And it increased 0.35% respectively on Jul.17 (Mon.) and Jul.19 (Wed.). The rate kept stable on Jul.18 and Jul.20 and Jul.21 (Tue. and Thu. and Fri.) and was closed at $35.88/ton on Jul.21 (Fri.) with an increase of 0.70% from Jul.14 (the last release day of week 28).