(May 30- Jun.3) International Grain Future Freight

2016-06-12

Week 22, 2016 (May 30- June 3), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of US Gulf-Tianjin route (soybean) from Oct. to Dec. in 2016, and the trend is shown in the chart below.

The weather in soybean’s areas was good and the American soybean planting situation was successful. At present, the American soybean planting rate is 73% which is higher than 68% in the corresponding period rate last year and 66% in the mean value of the five year. However, it is expected that La Nina weather will probably occurred this year, which may influence American’s soybean planting and production.

In terms of the shipping market, the future freight rate maintained stable. From May 30 to Jun.2 (Mon.-Thu.), the IGF stood at $25.38/ton and were flat with week 21. On Jun.3(Fri.) , the future freight rate got a slight rise of $0.06/ton, and was closed at $25.44/ton with an increase of 0.24% from May 27 (the last release day of Week 21).

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