# La Ñina boosts the Panama Canal; Houthi threat drives up shipping costs through the Suez

> Panama Canal traffic is easing as rains improve water levels, while Houthi attacks have pushed shippers toward alternatives to the Suez Canal. The University of Arkansas notes that about 26% of US soybeans and 17% of US corn move via the Panama Canal, and Suez traffic has fallen sharply.

- Date: 2024-07-17 · published 2024-07-17T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/17016-la-nina-boosts-the-panama-canal-houthi-threat-drives-up-shipping-costs-through
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Easing Panama restrictions lowers route costs for US soy and corn exports to Asia, but Suez disruption keeps freight elevated, leaving net ocean freight costs high for grain buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2025-02-07 | [Transits Through the Panama Canal are Down 10%  \| SupplyChainBrain](https://feedsoft.ai/events/16969-transits-through-the-panama-canal-are-down-10-supplychainbrain.md) | -2.9% | -4.7% |
| SOY | 2019-04-26 | [The future of the Panama Canal: What’s next for grain and coal shipping - FreightWaves](https://feedsoft.ai/events/59492-the-future-of-the-panama-canal-what-s-next-for-grain-and-coal-shipping.md) | -3.3% | -4.4% |
| SOY | 2024-01-26 | [Freight through Suez Canal down 45% since Houthi attacks - UNCTAD \| Reuters](https://feedsoft.ai/events/32020-freight-through-suez-canal-down-45-since-houthi-attacks-unctad-reuters.md) | -1.6% | -7.4% |
| SOY | 2026-05-19 | [Maintenance work and weather threatens to boost Panama Canal congestion - The Loadstar](https://feedsoft.ai/events/16858-maintenance-work-and-weather-threatens-to-boost-panama-canal-congestion-the.md) | -1.9% | -7.9% |
| SOY | 2022-04-01 | [Panama Canal Proposes New Toll System, Raising Transit Costs](https://feedsoft.ai/events/41746-panama-canal-proposes-new-toll-system-raising-transit-costs.md) | +1.7% | +5.6% |
| CORN | 2025-02-07 | [Transits Through the Panama Canal are Down 10%  \| SupplyChainBrain](https://feedsoft.ai/events/16969-transits-through-the-panama-canal-are-down-10-supplychainbrain.md) | +1.5% | -6.3% |
| CORN | 2019-04-26 | [The future of the Panama Canal: What’s next for grain and coal shipping - FreightWaves](https://feedsoft.ai/events/59492-the-future-of-the-panama-canal-what-s-next-for-grain-and-coal-shipping.md) | +0.6% | +5.3% |
| CORN | 2024-01-26 | [Freight through Suez Canal down 45% since Houthi attacks - UNCTAD \| Reuters](https://feedsoft.ai/events/32020-freight-through-suez-canal-down-45-since-houthi-attacks-unctad-reuters.md) | -0.9% | -7.1% |

## Sources

- uaex.uada.edu: https://uaex.uada.edu/media-resources/news/2024/july/07-17-2024-ark-shipping-commodities.aspx

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