In Week 47, 2025 (Nov.17 to Nov.21), the International Grain Future Freight (IGF) reported the future freight rate of Panamax from South America to Tianjin (soybeans) from March to May 2026, and the trend is shown as follows:
The soil moisture in the southern soybean producing area of Brazil is good, and the sowing work continues to advance. The current soybean sowing rate in Brazil is 71%, compared to 80% in the same period last year. The soybean production areas in the central, northern, and western regions of Argentina have been affected by continuous rainfall, resulting in delayed sowing progress. Currently, the soybean sowing rate in Argentina is 24.6%, which is 11% behind the same period last year and 3.3% behind the five-year average.
In terms of transportation market, from Nov.17 to Nov.21 (Mon. to Fri.), future freight rates remained stable and ultimately closed at $40.00/ton, unchanged from Nov.14 (the last release day of the Week 46).
(The analysis report is for reference only and at your own risk)
