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Panamax dry bulk rates in the Atlantic rose in the week to February 19, with Brazil to Northeast Asia up $1.90 to $34.70 per tonne and U.S. Gulf to Northeast Asia up $0.20 to $44.20 per tonne. Brazil exported 1.7 million tonnes of soybeans and 827,009 tonnes of corn in the first two weeks of February, slightly behind 2024's pace.
Cargo inquiries for late-March dates from South America are building.
Rising South American cargo demand tightens vessel supply and lifts freight costs for Brazilian soybean and corn exports. Higher freight narrows the export arbitrage and can weigh on Brazilian FOB prices.
fastmarkets.comEoin HughesFeb 20, 2025Not enough comparable past events yet for a historical read.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 480 past neutral trade events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), 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.
