Week 21, 2016 (May 23-May 27), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of US Gulf-Tianjin route (soybean) from October to December in 2016, and the trend is shown in the chart below.

At present, the American soybean planting rate is 56%, which was the same as the last year. The American soybean emergence rate is 22%, and the corresponding period rate last year is 27% and the mean value of the five year is 21%. What’s more, the United States Department of Agriculture predicts that the annual production of world’s soybean in 2016/2017 will increase by 2.64%, compared with that in 2015/2016, and the market supply is still abundant.

In terms of the shipping market, the future freight rate climbed in the last two weeks, with an increase of 7.5%. IGF kept at $ 25.38/ton from May 23 to 27 (Mon.-Fri.), flat with May 20 (the last release day of Week 20).