International Grain Future Freight (Dec.4-Dec.8)

Dec 15, 2017

Week 49, 2017 (Dec.4-Dec.8), 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 of Brazil soybean was completed and the sowing speed was faster than last year. The weather of Brazil main soybean production area was good for the growth and the market predicted the yield of soybean would be good. And the sowing speed of Argentina soybean increased and the progress was completed 42.5%.

In terms of the shipping market, the future freight rate kept the upward trend. On Dec.4 (Mon.), the FFA increased 0.59% and kept stable on Dec.5 (Tue.). It increased $0.13/ton and then kept stable from Dec.7 to Dec.8 (Thu. To Fri.). Finally, the FFA was closed at $31.88/ton which increased 0.99% from Dec.1 (the last release day of Week 48).