Week 51, 2017 (Dec.18-Dec.22), the International Grain Future Freight (IGF) reported the Panamax forward freight rate of U.S. Gulf-Tianjin route (soybean) from Mar. to May. in 2018, and the trend is shown in the chart below.

The sowing of Brazil soybean was completed and some fast-growing soybean entered jointing stage and some production area begun to fill. The market predicted the yield of soybean would be good. And there was rain in many area of South America and the weather was good for the growth of soybean.

In terms of the shipping market, the future freight rate increased slightly. On Dec.18 (Mon.), the FFA decreased $0.12/ton and then kept stable. From Dec.21 to Dec.22 (Thu. to Fri.), the FFA decreased slightly. Finally, the FFA was closed at $32.20/ton which decreased 0.92% from Dec.15 (the last release day of Week 50).