International Grain Future Freight (Aug.21-Aug.25)

Sep 1, 2017

Week 34, 2017 (Aug.21-Aug.25), 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 newest report of USDA showed the good rate of U.S soybean was 60% which was 1% higher than last week and it met the market prediction. The blooming rate was 97% and podding rate was 87% which was the same with last year and 5-years average. The rain in Mid-west area continued and it would help to make the growth humidity better and was good for the pod filling.

In terms of the shipping market, the future freight rate adjusted in narrow range after the rapid increase in last week. It increased from Aug.21 to Aug.22 (Mon. to Tue.) and then kept stable but decreased slightly on Aug.24 (Thu.). Finally, the future freight rate was closed at $38.31/ton with an increase of 0.82% from Aug.18 (the last release day of Week 33).