International Grain Future Freight(Oct.9-Oct.13)

Oct 31, 2017

Week 41, 2017 (Oct.9-Oct.13), 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.

Due to the weather factor, the progress of the harvest of U.S soybean and the planting of Brazil soybean was slow than last year. The data of USDA showed that the harvest rate of U.S soybean was 36% and it was 22% in last week, and it was 41% with last year and the five-year average was 43%.

In terms of the shipping market, the future freight rate increased slightly on Oct.9 (Mon.). It was kept on $42.13/ton from Oct.10 to Oct.12 (Tue. to Thu.). On Oct.13 (Fri.), the rate increased again. Finally, the IGF was closed at $42.63/ton with an increase of 1.79% from Sep.29 (the last release day of Week 39).