Week 28, 2016 (Jul.11-July.15), 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 planting area of U.S. soybean increased and the flowering rate was 40%. The good rate of soybean was 71% which stayed at the historical high level. The expectation of harvest will further grow if there won’t be any substantial heavy weather in the next two months which are the key periods of soybean growth.

In terms of the shipping market, the future freight rate remained stable and be a high level. It slightly increased with $0.12/ton on Jul.11 (Mon.) and remained stable on Jul.12 (Tue.). And the freight rate fell to $27.88/ton and kept stable until Jul.15 (Fri.) which remained the same level on Jul.8 (the last release day of Week 27).