In Week 38, 2025 (Sept.15 to Sept.19), the International Grain Future Freight (IGF) forward freight rate trend for Panamax from Gulf America to Tianjin (soybeans) for the period of January to March 2026 is shown as follows:
Rainfall in the western U.S. soybean-producing regions supported crop maturation during the week. The current soybean harvest progress stands at 5%, compared with 6% at the same time last year and a five-year average of 3%. Leaf drop has reached 41%, in line with the same period last year and slightly above the five-year average of 40%. Crop conditions rated good to excellent stand at 63%, compared with 64% a year earlier.
In the transportation market, forward freight rates remained stable from Sept.15 to 19 (Mon. to Fri.), closing at $57.75 per ton, unchanged from Sept.12 (the last release day of Week 37).
(The analysis report is for reference only and at your own risk)
