# Market Perspectives - December 12, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council

> The International Longshore Association and U.S. Maritime Alliance had no announced progress on their contract, which expires January 15, 2025, with automation of docks the key sticking point. Houthi attacks on Red Sea shipping paused that week, but carriers continued routing around the Cape of Good Hope. The Baltic Dry Index fell to 1,106, its lowest since September 2023, driven by a 14% drop in the Baltic Capesize Index, while the Panamax route reversed higher.

- Date: 2024-12-12 · published 2024-12-12T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/16978-market-perspectives-december-12-2024-page-6-of-7-u-s-grains-and-bioproducts
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

A possible US port labor disruption before mid-January would raise shipping risk for grain exports, while the weakening dry bulk indices point to lower freight costs for buyers.

## Read by commodity

- CORN: bullish ▲
- DDGS: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-03-26 | [Market Perspectives – March 26, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/54041-market-perspectives-march-26-2020-page-9-of-10-u-s-grains-and-bioproducts.md) | +1.9% | +2.0% |
| WHEAT | 2022-02-24 | [Market Perspectives – February 24, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/42611-market-perspectives-february-24-2022-page-9-of-10-u-s-grains-and-bioproducts.md) | +6.8% | +25.3% |
| WHEAT | 2022-01-20 | [DDGS Weekly Market Report – January 20, 2022 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/7371-ddgs-weekly-market-report-january-20-2022-u-s-grains-and-bioproducts-council.md) | +0.8% | -2.1% |
| WHEAT | 2024-12-26 | [Grain Transportation Report, December 26, 2024](https://feedsoft.ai/events/16490-grain-transportation-report-december-26-2024.md) | +0.4% | -1.5% |
| WHEAT | 2024-10-23 | [Resuming attacks on Ukrainian grain exports threatens 1% of dry bulk market: BIMCO \| S&P Global](https://feedsoft.ai/events/14263-resuming-attacks-on-ukrainian-grain-exports-threatens-1-of-dry-bulk-market.md) | +0.3% | -1.4% |
| CORN | 2020-12-03 | [Market Perspectives – December 3, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/49550-market-perspectives-december-3-2020-page-9-of-10-u-s-grains-and-bioproducts.md) | +0.0% | +3.9% |
| CORN | 2024-03-14 | [Market Perspectives - March 14, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/31093-market-perspectives-march-14-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +1.8% | -5.4% |
| CORN | 2023-06-22 | [Market Perspectives – June 22, 2023 - Page 9 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/35383-market-perspectives-june-22-2023-page-9-of-9-u-s-grains-and-bioproducts-council.md) | -8.7% | -14.9% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-december-12-2024/
- grains.org: https://grains.org/market_perspectives/market-perspectives-december-12-2024/6/

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