International Grain Future Freight (Sep.25-Sep.29)

Oct 31, 2017

Week 39, 2017 (Sep.25-Sep.29), 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 data of USDA showed that the good rate of soybean was 60% which was significant lower than 74% in the same period of last year. On the other hand, the harvest progress of U.S soybean was slow and the harvest rate was 22% which was 24% last year and the five-year average was 26%.

In terms of the shipping market, the future freight rate decreased slightly. On Sep.25 (Mon.), the future freight rate decreased slightly. It was kept on $42.38/ton on Sep.26 (Tue.). On Sep.27 (Wed.), the rate decreased significantly and was kept stable from Sep.28 to Sep.29 (Thu. to Fri.). Finally, the IGF was closed at $41.88/ton with a decrease of 1.33% from Sep.22 (the last release day of Week 38).

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