Week 30, 2016 (Jul.25-July.29), 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 plenty rainfall and comfortable temperatures in the Midwest of U.S. boosted the prediction of the production of soybean. Now the good rate of U.S. soybean is 71% and the blooming rate is 76% and the padding rate is 35%, all these three rates are better than the same period last year. The weather forecast shows that there will be plenty of raindrop in August which is the key period of soybean growth. This will make the good rate of soybean keep stable.

In terms of the shipping market, the future freight rate continuously went high. It increased to $28.63/ton or by 1.78% on a week-to-week basis on Jul.25 (Mon.). On Jul. 27 (Wed.), IGF decreased slightly $0.07/ton and then kept stable on two consecutive release days. And the rate finally was closed at $28.56/ton on Jul.29 (Fri) with an increase of 1.53% from Jul. 22 (the last release day of Week 29).