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The Panama Canal began offering a tenth daily Neopanamax booking slot on October 15, raising the total to 33 across both lock sets. USDA's weekly Grain Transportation Report put U.S. Gulf-to-Japan grain freight at $76.25 per metric ton as of October 8, 36% above a year earlier.
Higher Pacific freight raises the landed cost of U.S. grain and feed ingredients for Japan and Asian buyers, supporting U.S. Gulf basis discounts relative to competitors. The added slot is small relative to 98% slot utilization, so relief on rates is limited.
easternherald.comOct 16, 2026Not enough comparable past events yet for a historical read.
After 359 past bearish logistics events, Corn moved a median -0.3% over 5 sessions (44% higher; middle half -1.5% to +1.5%), and -0.5% over 20.
After 297 past bearish logistics events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.5% to +1.8%), and +0.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
