# No end in sight for shipping volatility | World Grain

> Houthi attacks have kept the Red Sea and Suez Canal partly closed, and Panama Canal drought restrictions have cut bulk capacity. An MSI analyst estimates Red Sea restrictions have raised dry bulk freight rates by 40% to 50%.

- Date: 2024-06-13 · published 2024-06-13T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/16533-no-end-in-sight-for-shipping-volatility-world-grain
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher ocean freight raises the delivered cost of US grain to Asia and shifts sales toward Brazil, supporting Brazilian export prices and US Gulf competitiveness losses.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-09-16 | [The Black Sea Grain Initiative: What it is, and why it’s important for the world \| UN News](https://feedsoft.ai/events/14452-the-black-sea-grain-initiative-what-it-is-and-why-it-s-important-for-the-world.md) | +1.0% | +0.8% |
| CORN | 2025-12-19 | [Strikes on Odesa region ports slow down shipments and increase logistics costs for grain producers \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/21509-strikes-on-odesa-region-ports-slow-down-shipments-and-increase-logistics-costs.md) | +0.4% | -3.3% |
| CORN | 2023-05-18 | [Russia agrees to extend Ukraine grain deal in a boost for global food security \| AP News](https://feedsoft.ai/events/14393-russia-agrees-to-extend-ukraine-grain-deal-in-a-boost-for-global-food-security.md) | +5.6% | +2.2% |
| CORN | 2022-06-29 | [Ships going dark: Russia’s grain smuggling in the Black Sea](https://feedsoft.ai/events/14482-ships-going-dark-russia-s-grain-smuggling-in-the-black-sea.md) | +1.2% | -16.3% |
| CORN | 2022-08-08 | [Russia, Ukraine agree to protect Ukraine grain shipping channel \| Reuters](https://feedsoft.ai/events/14461-russia-ukraine-agree-to-protect-ukraine-grain-shipping-channel-reuters.md) | +2.6% | +1.5% |
| SOY | 2023-02-15 | [Black Sea Initiative to keep markets volatile short term: Grain market daily \| AHDB](https://feedsoft.ai/events/37226-black-sea-initiative-to-keep-markets-volatile-short-term-grain-market-daily-ahdb.md) | +0.1% | -3.1% |
| SOY | 2026-04-01 | [Grain, Oilseed Prices Fall as Traders Look for End to Iran War - Bloomberg](https://feedsoft.ai/events/19762-grain-oilseed-prices-fall-as-traders-look-for-end-to-iran-war-bloomberg.md) | -0.8% | +1.0% |
| SOY | 2022-07-14 | [Wheat, soybeans fall on expectations of progress in Ukraine shipping talks - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/5976-wheat-soybeans-fall-on-expectations-of-progress-in-ukraine-shipping-talks.md) | -8.8% | +6.3% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/20103-no-end-in-sight-for-shipping-volatility

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.