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Kpler reports that Panamax Pacific earnings have exceeded seasonal norms, with the Atlantic round-voyage rate at a discount of about $4,935/day on average since mid-February. Heavy Brazilian soybean exports drew vessels into the South Atlantic and reduced Pacific ballaster supply.
Kpler expects Pacific premiums to erode in Q2 as more ships discharge in China.
A shift in vessel supply changes which routes are competitive for soybean and corn exporters, with Atlantic freight expected to firm and Pacific freight to ease. The net effect on ocean freight costs is modest.
kpler.comAlexis EllenderApr 27, 2026Not enough comparable past events yet for a historical read.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
