# Chaos at Shipping Chokepoints | Farm Bureau Intel Markets | American Farm Bureau Federation

> The American Farm Bureau analysis examines Panama Canal water shortages and Houthi attacks in the Red Sea, which have severely limited two major maritime chokepoints. Roughly 91% of US sorghum exports, 29% of soybean exports and 18% of corn exports transited Panama in FY2023.

- Date: 2024-03-01 · published 2024-03-01T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/31092-chaos-at-shipping-chokepoints-farm-bureau-intel-markets-american-farm-bureau
- Commodities: [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [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

Restricted Panama transits raise freight costs and delay US Gulf sorghum and soybean shipments to Asia, which can widen US basis versus Brazil and support Gulf export spreads.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- SORGHUM: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-09-28 | [Low Mississippi River Levels Drive up Grain Transportation Costs \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/16601-low-mississippi-river-levels-drive-up-grain-transportation-costs-farm-bureau.md) | -2.3% | -1.2% |
| SOY | 2026-05-26 | [Low Mississippi River Water Levels Raise Shipping Costs For Farmers — Louisiana Farm Bureau News](https://feedsoft.ai/events/16362-low-mississippi-river-water-levels-raise-shipping-costs-for-farmers-louisiana.md) | -0.4% | -5.3% |
| SOY | 2020-11-30 | [Barge Restrictions Mean Shipping Complications on Mississippi River \| Feed & Grain](https://feedsoft.ai/events/49545-barge-restrictions-mean-shipping-complications-on-mississippi-river-feed-and.md) | -2.4% | +5.3% |
| SOY | 2017-10-02 | [Mississippi River Shipping Backlog Hits Farmers](https://feedsoft.ai/events/68347-mississippi-river-shipping-backlog-hits-farmers.md) | +0.4% | +0.7% |
| SOY | 2025-09-30 | [Drought debacle: How the Mississippi River's low water levels are hurting crop income \| An official publication of Michigan Farm Bureau](https://feedsoft.ai/events/16428-drought-debacle-how-the-mississippi-river-s-low-water-levels-are-hurting-crop.md) | +0.7% | +5.6% |
| CORN | 2023-09-28 | [Low Mississippi River Levels Drive up Grain Transportation Costs \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/16601-low-mississippi-river-levels-drive-up-grain-transportation-costs-farm-bureau.md) | +1.1% | +1.7% |
| CORN | 2026-05-26 | [Low Mississippi River Water Levels Raise Shipping Costs For Farmers — Louisiana Farm Bureau News](https://feedsoft.ai/events/16362-low-mississippi-river-water-levels-raise-shipping-costs-for-farmers-louisiana.md) | -1.8% | -6.6% |
| CORN | 2023-04-19 | [Barge operations to stop as Mississippi rises increasing costs to farmers](https://feedsoft.ai/events/16636-barge-operations-to-stop-as-mississippi-rises-increasing-costs-to-farmers.md) | -1.0% | -8.5% |

## Sources

- fb.org: https://www.fb.org/intel/markets/chaos-at-shipping-chokepoints

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