In Week 29, 2025 (July 14-July 18), the International Grain Future Freight (IGF) forward freight rate trend for Panamax from Gulf America to Tianjin (soybeans) for the period of October to December 2025 is shown as follows:
Soil moisture conditions in the major U.S. soybean-producing regions are favorable, with the crop condition rating reaching the highest level for this time of year since 2016. According to data from the U.S. Department of Agriculture, the current good-to-excellent rating stands at 70%, up from 68% at the same time last year. Soybean pod-setting is at 15%, slightly below last year’s 17% but above the five-year average of 14%. The blooming rate is 47%, down from 49% last year but in line with the five-year average of 47%.
In the transportation market, forward freight rates rose slightly by USD 1.25 per ton on July 14 (Mon.) and remained stable from July 15 to 18 (Tue. to Fri.). By the end of the week, forward rates closed at USD 49.00 per ton, reflecting a cumulative increase of 2.62% compared to July 11 (the last release day of Week 28).
(The analysis report is for reference only and at your own risk)
