International Grain Future Freight (Dec.11-Dec.15)

Dec 19, 2017

Week 50, 2017 (Dec.11-Dec.15), 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 weather of Brazil soybean production area was good for the growth. The market predicted the yield of soybean would be good. And there was some rain in Argentina main soybean production area which relieved the draught of middle production area.

In terms of the shipping market, the future freight rate increased continuously. On Dec.11 (Mon.), the FFA kept stable. From Dec.12 to Dec.15 (Tue. to Fri.), the FFA increased continuously. Finally, the FFA was closed at $32.50/ton which increased 1.96% from Dec.8 (the last release day of Week 49).