International Grain Future Freight (Aug.1-Aug.4)

Aug 11, 2017

Week 31, 2017 (Aug.1-Aug.4), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Jan. to Mar. in 2018, and the trend is shown in the chart below.

The helpful raindrop in the mid-west U.S and the mild temperature were good for the soybean which was in the seed filling period. The data of U.S Agriculture Department showed, the good rate of U.S soybean was 59% this week which was 2% higher than last week. But it was still lower than 72% of the same period of last year. The prospect of the predicted yield of U.S soybean was getting clear with the weather turned good.

In terms of the shipping market, the future freight rate was $35.00/ton on Aug.1 (Tue.) and then increased $0.31/ton on Aug.2 (Wed.) and kept stable on Aug.3 (Thu.). The future freight rate increased and was closed at $35.44/ton on Aug.4 (Fri.) with an increase of 1.25% from the beginning of this week.