# Pacific Northwest sees increased exports due to Panama Canal drought - Agweek | #1 source for agriculture news, farming, markets

> Grain shipments through the Pacific Northwest have increased in 2024 as Gulf cargoes bound for Asia avoid the Panama Canal due to drought-related waits, high transit fees, or long routings around South America. Elevators are adjusting margins to keep product moving, and shipping volumes have been strong this summer.

- Date: 2024-07-12 · published 2024-07-12T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/17015-pacific-northwest-sees-increased-exports-due-to-panama-canal-drought-agweek-1
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Rerouting Gulf and Midwest grain to PNW ports shifts export flows and supports PNW basis and barge/rail usage, while higher transit costs via Panama widen the Gulf export discount to Asia.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-02-26 | [Study shows use of Panama Canal may reduce freight costs on 'Northern Arc' exports by 35% - DatamarNews](https://feedsoft.ai/events/48523-study-shows-use-of-panama-canal-may-reduce-freight-costs-on-northern-arc.md) | -1.0% | +4.7% |
| CORN | 2025-11-05 | [Freight rates for grain stabilized after a short increase - ProAgro Group Leader of the Ukrainian market of agricultural business events](https://feedsoft.ai/events/16901-freight-rates-for-grain-stabilized-after-a-short-increase-proagro-group-leader.md) | +1.0% | +2.3% |
| CORN | 2021-02-01 | [Panama Canal Congestion: A Commodity Market Case Study Panama Canal case study: Minimising the impact of elevated congestion in Commodity markets \| Kpler - Feb 01, 2021](https://feedsoft.ai/events/48517-panama-canal-congestion-a-commodity-market-case-study-panama-canal-case-study.md) | +0.8% | -2.0% |
| CORN | 2024-09-30 | [Bulk carriers freight rates from Ukrainian ports have increased \| Ukrainian and World Shipping News - Ukrainian Shipping Magazine - Ukrainian and World Shipping News](https://feedsoft.ai/events/28514-bulk-carriers-freight-rates-from-ukrainian-ports-have-increased-ukrainian-and.md) | +1.0% | -0.6% |
| CORN | 2021-07-19 | [New Terminal Expands Grain Handling Capacity for Ag Coast \| Feed & Grain](https://feedsoft.ai/events/45963-new-terminal-expands-grain-handling-capacity-for-ag-coast-feed-and-grain.md) | -1.1% | +0.0% |
| SOY | 2021-02-26 | [Study shows use of Panama Canal may reduce freight costs on 'Northern Arc' exports by 35% - DatamarNews](https://feedsoft.ai/events/48523-study-shows-use-of-panama-canal-may-reduce-freight-costs-on-northern-arc.md) | +0.7% | +0.6% |
| SOY | 2020-07-20 | [Argentina's loss in soy oil exports due to Paraná river drought is Brazil's gain - DatamarNews](https://feedsoft.ai/events/51948-argentina-s-loss-in-soy-oil-exports-due-to-parana-river-drought-is-brazil-s.md) | +0.8% | +0.6% |
| SOY | 2020-09-01 | [BIMCO: Agriculture Exports Make "Stunning Comeback"](https://feedsoft.ai/events/51310-bimco-agriculture-exports-make-stunning-comeback.md) | +2.3% | +4.4% |

## Sources

- agweek.com: https://www.agweek.com/agribusiness/pacific-northwest-sees-increased-exports-due-to-panama-canal-drought

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