# Market Perspectives - November 21, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council

> The weekly ocean freight review notes that Baltic Dry Index fell 0.9% to 1,616, with Panamax and Supramax segments weaker and Capesize up 2.3%. U.S. Gulf to Japan grain freight dropped 1.9% to $48.56 per metric ton, and Pacific Northwest rates fell 1.3% to $25.18. Vessel operators continue avoiding the Red Sea despite a lull in verified Houthi attacks.

- Date: 2024-11-21 · published 2024-11-21T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/16984-market-perspectives-november-21-2024-page-6-of-7-u-s-grains-and-bioproducts
- 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

Lower U.S. grain freight to Asia reduces the delivered cost of U.S. export grain, modestly supporting export competitiveness versus Black Sea and South American origins. Continued Cape routing keeps transit times and freight costs elevated.

## Read by commodity

- SOY: neutral
- CORN: neutral
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-10-17 | [Market Perspectives - October 17, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16993-market-perspectives-october-17-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | +2.1% | +2.9% |
| CORN | 2024-04-25 | [Market Perspectives - April 25, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/30623-market-perspectives-april-25-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +0.7% | +4.5% |
| CORN | 2017-09-21 | [Market Perspectives September 21, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69170-market-perspectives-september-21-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +0.5% | +2.4% |
| CORN | 2022-07-21 | [Market Perspectives – July 21, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/40678-market-perspectives-july-21-2022-page-9-of-10-u-s-grains-and-bioproducts-council.md) | -5.2% | -0.3% |
| CORN | 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) | +3.9% | -3.7% |
| SOY | 2024-10-17 | [Market Perspectives - October 17, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16993-market-perspectives-october-17-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | +1.8% | +2.5% |
| SOY | 2024-04-25 | [Market Perspectives - April 25, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/30623-market-perspectives-april-25-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | -0.9% | +6.9% |
| SOY | 2022-07-21 | [Market Perspectives – July 21, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/40678-market-perspectives-july-21-2022-page-9-of-10-u-s-grains-and-bioproducts-council.md) | +9.0% | +1.8% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-november-21-2024/6/

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