Panamax Black Sea–Iran is not the Caspian corridor
Iran is bought two ways from Russia: Caspian from Astrakhan, and larger vessels via Bandar Abbas / the south. This freight series is the Panamax water, not the Caspian barge. It printed 42 USD/MT through February, then 64 from 18 April through 18 July — 19 points, not the 29-week wheat set. There is no August 2026 mid on this line yet.
Do not add 64 to FOB wheat and call it DAP Iran. Caspian timing, Bandar Abbas draft and onward Afghanistan are described on Russian wheat via the Caspian and Russia–Iran grain. Egypt Panamax and Turkey Handysize are Egypt and Turkey.
Grain board: FOB Black Sea prices. For an Iran stem, tell us Caspian or south.