International Grain Future Freight (Mar.26-Mar.30)

Apr 13, 2018

Week 13, 2018 (Mar.26-Mar.30), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Jun. to Jul. in 2018, and the trend is shown in the chart below.

Now, because of fine weather, the soybean reaping in Brazil has been completed 71%, slightly lower than that in the same period last year (74%), but higher than average for the past five years (69%). By contrast, soybean and corn production in Argentina suffered continuous and further deterioration due to bad weather. The poor rate of Argentine soybean increased to 82.1%, 5.7% higher than that in the last week.

In terms of the shipping market, the future freight rate kept steady in the whole. In details, it kept $35.31/ton from Mar.26 (Mon.) to Mar.28 (Wed.) , then slightly declined $0.05/ton on Mar.29 (Thur.), and finally kept stale on Mar.30 (Fri.). it was closed at $35.26/ton, decreasing 0.14% compared with that on Mar.23 (the last release day of Week 12).