# Shipping market: The good, bad and ugly | World Grain

> Grain shipping costs have risen sharply in 2026, with the Baltic Dry Index near five-year highs in mid-September and the IGC Grains and Oilseeds Freight Index at 187 points versus 138 in early January. Strong bulk demand, including Chinese iron ore trades, and typhoon disruptions have tightened vessel supply. Panama Canal transit limits from October, caused by El Niño drought, add further bottlenecks.

- Date: 2026-09-18 · published 2026-09-18T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/16764-shipping-market-the-good-bad-and-ugly-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 freight costs raise landed prices for grain importers and widen the cost gap for US exports routed through Panama, supporting alternative origins. Buyers face higher delivered feed costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2025-02-01 | [Shortage of grain cargoes from Ukraine affects the Panamax market \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/16966-shortage-of-grain-cargoes-from-ukraine-affects-the-panamax-market-ukrainian-and.md) | +0.6% | -3.9% |
| CORN | 2024-01-05 | [US Gulf shipping costs climb for corn, soy \| World Grain](https://feedsoft.ai/events/16574-us-gulf-shipping-costs-climb-for-corn-soy-world-grain.md) | -1.5% | -2.4% |
| CORN | 2024-11-18 | [Freight rates for grain transportation from Ukraine are decreasing \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/16989-freight-rates-for-grain-transportation-from-ukraine-are-decreasing-ukrainian.md) | -0.1% | +2.7% |
| CORN | 2024-05-20 | [Handysize freight rates continue to fall \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/30457-handysize-freight-rates-continue-to-fall-ukrainian-and-world-shipping-news.md) | +1.9% | +5.4% |
| CORN | 2022-10-26 | [Water woes tighten capacity for ag shippers \| World Grain](https://feedsoft.ai/events/16673-water-woes-tighten-capacity-for-ag-shippers-world-grain.md) | -1.2% | -3.3% |
| SOY | 2024-07-21 | [The ‘knowns’ and ‘unknowns’ of the Grains & Oilseeds market](https://feedsoft.ai/events/29321-the-knowns-and-unknowns-of-the-grains-and-oilseeds-market.md) | -1.8% | -14.4% |
| SOY | 2024-01-05 | [US Gulf shipping costs climb for corn, soy \| World Grain](https://feedsoft.ai/events/16574-us-gulf-shipping-costs-climb-for-corn-soy-world-grain.md) | -2.4% | -5.8% |
| SOY | 2022-10-26 | [Water woes tighten capacity for ag shippers \| World Grain](https://feedsoft.ai/events/16673-water-woes-tighten-capacity-for-ag-shippers-world-grain.md) | +3.9% | +3.5% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/23231-shipping-market-the-good-bad-and-ugly

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