Loading…
East Coast South America market participants expect Atlantic Panamax dry bulk strength to ease in May 2024 due to an oversupply of ships despite a healthy cargo book through the month. Fixing date sensitivity is heightened and a long list of ballasters is tempering optimism.
A looser Atlantic Panamax market lowers freight costs for South American grain and meal exports to Asia and Europe, which can soften landed feed costs. The effect on prices is modest because cargo volumes remain solid.
spglobal.comMay 1, 2024Not enough comparable past events yet for a historical read.
After 48 past neutral logistics events, SBM moved a median +0.7% over 5 sessions (60% higher; middle half -1.0% to +2.5%), and +0.7% 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.
