In Week 48, 2025 (Nov.24 to Nov.28), 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 main soybean producing areas of Brazil have been continuously affected by irregular rainfall, resulting in delayed sowing progress. The current soybean sowing rate in Brazil is 81%, which is 86% behind in the same period last year. The weather conditions in some soybean producing areas of Argentina are favorable, facilitating the orderly progress of sowing work. Currently, the soybean sowing rate in Argentina is 36%, which is 45% behind in the same period last year and 1% behind the five-year average.
In terms of the transportation market, on Nov.24 (Mon.), future freight rate remained stable. On Nov.25 (Tue.), the future freight rate fell slightly by $0.50/ton and stayed stable from Nov.26 to Nov.28 (Wed. to Fri.). Ultimately, the future freight rate closed at $39.50/ton, a cumulative decrease of 1.25% compared to Nov.21 (the last release day of Week 47).
(The analysis report is for reference only and at your own risk)
