# Market Perspectives - March 14, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council

> The Panama Canal Authority raised daily Panamax slots by three, to 20, with 27 total daily transits from March 25. Gatun Lake levels continued to fall to 80.5 feet, and the freshwater surcharge rose to 2.89%.

- Date: 2024-03-14 · published 2024-03-14T12:00:00.000Z
- Category: logistics · region US · magnitude medium
- Page: https://feedsoft.ai/events/31093-market-perspectives-march-14-2024-page-6-of-9-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Additional slots ease bottlenecks for grain vessels, but falling lake levels signal further restrictions ahead, keeping ocean freight to Asia firm and pressuring US Gulf export competitiveness.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲
- DDGS: neutral
- WHEAT: bearish ▼
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-08-31 | [Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +0.5% | -2.7% |
| WHEAT | 2022-08-21 | [Black Sea dry bulk trade resumes as spot grains, fertilizer cargoes enter market - Supply Chain Council of European Union \| Scceu.org](https://feedsoft.ai/events/39922-black-sea-dry-bulk-trade-resumes-as-spot-grains-fertilizer-cargoes-enter-market.md) | -9.3% | -9.7% |
| WHEAT | 2024-06-27 | [Ukraine’s corridor exported 37.4 million tons of agricultural products to 45 countries](https://feedsoft.ai/events/14296-ukraine-s-corridor-exported-37-4-million-tons-of-agricultural-products-to-45.md) | -2.2% | +4.2% |
| WHEAT | 2021-05-14 | [Markets drop on post-USDA profit-taking: Grain market daily \| AHDB](https://feedsoft.ai/events/7463-markets-drop-on-post-usda-profit-taking-grain-market-daily-ahdb.md) | -1.3% | -4.0% |
| WHEAT | 2020-03-24 | [Ukraine's Mar 14-20 sea port grain shipment surged a quarter — Latifundist.com](https://feedsoft.ai/events/53987-ukraine-s-mar-14-20-sea-port-grain-shipment-surged-a-quarter-latifundist-com.md) | +3.1% | +2.6% |
| CORN | 2023-06-22 | [Market Perspectives – June 22, 2023 - Page 9 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/35383-market-perspectives-june-22-2023-page-9-of-9-u-s-grains-and-bioproducts-council.md) | -8.7% | -14.9% |
| CORN | 2024-12-12 | [Market Perspectives - December 12, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16978-market-perspectives-december-12-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | -0.0% | +5.6% |
| CORN | 2022-02-24 | [Market Perspectives – February 24, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/42611-market-perspectives-february-24-2022-page-9-of-10-u-s-grains-and-bioproducts.md) | +6.5% | +12.3% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-march-14-2024/
- grains.org: https://grains.org/market_perspectives/market-perspectives-march-14-2024/5/
- grains.org: https://grains.org/market_perspectives/market-perspectives-march-14-2024/6/

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