International Grain Future Freight (Nov.27-Dec.1)

Dec 8, 2017

Week 48, 2017 (Nov.27-Dec.1), 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 sowing period of Brazil soybean came to the end and it would enter the key growth period. The weather of Brazil was good and the data showed that the sowing progress of Brazil soybean was completed 84% which was higher than 83% of last year and 79% of five years average. There was less rain in Argentina, but the soil moisture was good. The sowing progress of Argentina soybean was 34% which was improved 10% than last week.

In terms of the shipping market, the future freight rate was shocked in narrow range. On Nov.27 (Mon.), the FFA decreased $0.19/ton. It increased continuously from Nov.28 to Nov.29 (Tue. to Wed.). On Dec.1 (Fri.), the FFA increased and was closed at $31.56/ton which increased 0.20% from Nov.24 (the last release day of Week 47).

Source from : Tianjin Shipping Index