International Grain Future Freight (Oct.16-Oct.20)

Oct 31, 2017

Week 42, 2017 (Oct.16-Oct.20), 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.

With the acceleration of the harvest of soybean, the production volume for soybean would be released gradually. The data of USDA showed that the harvest progress of soybean was increased. The harvest rate was 49% and 36% in last week and 59% in last year and the five years average was 60%.

In terms of the shipping market, the future freight rate kept stable and increased slightly 0.14% from Oct.16 to Oct. 17 (Mon. to Tue.). It increased 0.59% on Oct.18 (Wed.) and then it was kept on $42.94/ton. On Oct.20 (Fri.), the rate decreased. Finally, the IGF was closed at $42.88/ton with an increase of 0.59% from Oct.13 (the last release day of Week 41).