International Grain Future Freight (Aug.28-Sep.1)

Sep 7, 2017

Week 35, 2017 (Aug.28-Sep.1), 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 raindrop in Mid-West area of U.S was plenty and the temperature was comfortable which was good for primary growth period of soybean. The report of USDA showed the good rate of U.S soybean was 1% higher than last week but still lower than the same period of last year. The good rate of soybean was 61% which was 60% in last week and it was 73% in the same period of last year.

In terms of the shipping market, the future freight rate increased shocked and slightly. It increased 0.98% on Aug.28 (Mon.) and then kept stable in two releasing days. On Aug.31 (Thu.) the future freight rate decreased slightly. Finally, the future freight rate was closed at $38.63/ton with an increase of 0.82% from Aug.25 (the last release day of Week 34).