# Freight rates climb on South American demand - Fastmarkets

> 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.

- Date: 2025-02-20 · published 2025-02-20T12:00:00.000Z
- Category: trade · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/16965-freight-rates-climb-on-south-american-demand-fastmarkets
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

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.

## Read by commodity

- SOY: neutral
- CORN: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2021-01-12 | [EU soybean meal imports slump on tight South American supplies: sources](https://feedsoft.ai/events/49224-eu-soybean-meal-imports-slump-on-tight-south-american-supplies-sources.md) | +0.8% | +2.0% |
| SOY | 2021-05-28 | [Corn consolidates after surge on export demand - Markets - Business Recorder](https://feedsoft.ai/events/47116-corn-consolidates-after-surge-on-export-demand-markets-business-recorder.md) | +3.0% | -13.5% |
| SOY | 2020-01-09 | [China and MFP Tranche 3 \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/55062-china-and-mfp-tranche-3-farm-bureau-intel-markets-american-farm-bureau.md) | -1.0% | -6.1% |
| SOY | 2017-04-06 | [US Agriculture Bets the Farm on Chinese Soy Demand](https://feedsoft.ai/events/71362-us-agriculture-bets-the-farm-on-chinese-soy-demand.md) | +0.4% | +2.2% |
| SOY | 2019-05-28 | [Trade war drives need for South American soybean derivs \| FOW](https://feedsoft.ai/events/59147-trade-war-drives-need-for-south-american-soybean-derivs-fow.md) | +5.9% | +9.6% |
| CORN | 2021-05-28 | [Corn consolidates after surge on export demand - Markets - Business Recorder](https://feedsoft.ai/events/47116-corn-consolidates-after-surge-on-export-demand-markets-business-recorder.md) | -0.6% | -0.3% |
| CORN | 2021-07-23 | [Potential Countervailing and Anti-Dumping Duties on UAN Solutions Raise Eyebrows \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/45997-potential-countervailing-and-anti-dumping-duties-on-uan-solutions-raise.md) | -1.1% | -2.6% |
| CORN | 2018-12-06 | [Flat dry bulk rates can expect tonne-mile demand increase from](https://feedsoft.ai/events/61759-flat-dry-bulk-rates-can-expect-tonne-mile-demand-increase-from.md) | +0.2% | +2.0% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/freight-rates-climb-on-south-american-demand/

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