In Week 21, 2025 (May 19 to May 23), the International Grain Future Freight (IGF) reported the future freight rate of Panamax from South America to Tianjin (soybeans) from from October to December 2025, and the trend is shown as follows:
In the United States, soybean planting progress in the Midwest has been slightly slowed by rainfall, although it remains ahead of the average pace seen in previous years. According to the U.S. Department of Agriculture (USDA), the current soybean planting rate for the 2024/25 season stands at 66%, compared to the five-year average of 53%. The current soybean emergence rate is 34%, higher than the five-year average of 23%.
In terms of the transportation market, from May 19 to 23 (Mon. to Fri.), the future freight rate remained stable, closing at $47.75/ton, unchanged from May 16 (the last release day of Week 20). (The analysis report is for reference only and at your own risk)
