International Grain Future Freight (Nov.20-Nov.24)

Dec 1, 2017

Week 47, 2017 (Nov.20-Nov.24), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Mar. to May. in 2018, and the trend is shown in the chart below.

The weather of Brazil soybean production area got better and there was rain in all the main production area which accelerated the sowing speed. Now, the sowing progress of Brazil soybean was beyond the last year. The sowing was completed for 73% which was higher than the five years average 68%. The global agriculture yield report of USDA showed that the predicted yield of Brazil soybean was 108 million tons which was 5% lower than last year.

In terms of the shipping market, the future freight rate was steady. From Nov.20 to Nov.24 (Mon. to Fri.), the FFA was the same with last Friday. Finally, the IGF was closed at $31.50/ton which was the same with Nov.17 (the last release day of Week 46).

Source from : Shipping Indices