International Grain Future Freight (Nov.01-Nov.03)

Nov 10, 2017

Week 44, 2017 (Nov.01-Nov.3), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Mar. to May,2018, and the trend is shown in the chart below.

With the turn good of weather, the progress of the harvest of U.S soybean was good and the harvest near to the end and the yield of soybean was basically solid. The export of U.S soybean and the sowing of South America soybean would be the focus of the market. Now, the sowing progress of South America soybean was slower than last year due to the lack of rain in main production areas. Argentina just begun the sowing and the prediction of yield was low.

In terms of the shipping market, the future freight rate was $32.38/ton on Nov.1 (Wed.). And it increased slightly after kept stable on Nov.2 (Tue.). Finally, the IGF was closed at $32.44/ton with an increase of 0.19% from Nov.1.