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Capesize freight rates from Brazil to North China rose to new highs for the year at the end of February, reaching about $24 per tonne after a four-week climb. Panamax rates corrected downward over the same period, and tonne-day demand growth slowed, particularly in Handysize.
Higher Brazil-to-China capesize rates raise the landed cost of Brazilian soybeans and related feed ingredients into Asia, supporting CIF prices, while softer Panamax rates reduce the cost of some grain fronthaul moves.
breakwaveadvisors.comSignal OceanFeb 28, 2024Not 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.
