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Ukrainian grain freight rates rose, with Panamax corn shipments from deep-sea ports to China up $2 to $62-64 per tonne for the week to March 21. Coaster and barge rates to Turkey, Spain, Italy and Constanta also moved higher or lower modestly.
Higher Black Sea freight to China raises the landed cost of Ukrainian corn and narrows its export margin, modestly supporting US and South American corn competitiveness into Asia.
en.usm.mediaNinaMar 25, 2024After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
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.
