(Jun. 20 - Jun. 24) International Grain Future Freight


Week 25, 2016 (Jun.20-Jun.24), 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.

As of this week, the good rate of the U.S. soybean growth was 73% and it was 65% last year. The plant rate of U.S. soybean was 96% and it was 89% last year. These data indicate that the situation of U.S. soybean in new season is much better than the same period of last year. Moreover, the coming report of the U.S. Agriculture Department is predicted to increase the area of soybean’s plantation slightly.

In terms of the shipping market, the future freight rate maintained upwards trend. On Jun.21 (Tue.), the rate rose $0.38/ton. Then the rate remained stable from Jun.22 to Jun.24 (Wed. to Fri.). Finally, the rate was closed at $25.88/ton with an increase of 1.49% from Jun.17 (the last release day of Week 24).

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