# Dry Weekly Market Monitor — Breakwave Advisors

> 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.

- Date: 2024-02-28 · published 2024-02-28T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/31873-dry-weekly-market-monitor-breakwave-advisors
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-02-21 | [Dry Weekly Market Monitor — Breakwave Advisors](https://feedsoft.ai/events/31875-dry-weekly-market-monitor-breakwave-advisors.md) | -4.1% | +0.6% |
| SOY | 2023-10-25 | [Signal Dry Bulk Weekly Report — Breakwave Advisors](https://feedsoft.ai/events/33809-signal-dry-bulk-weekly-report-breakwave-advisors.md) | -0.6% | +6.3% |
| SOY | 2023-08-15 | [Breakwave Bi-Weekly Dry Bulk Report - August 15, 2023 — Breakwave Advisors](https://feedsoft.ai/events/34762-breakwave-bi-weekly-dry-bulk-report-august-15-2023-breakwave-advisors.md) | -1.5% | -4.3% |
| SOY | 2021-02-19 | [The Big Picture: Panamax Rates — Breakwave Advisors](https://feedsoft.ai/events/48848-the-big-picture-panamax-rates-breakwave-advisors.md) | +2.3% | +1.3% |
| SOY | 2017-06-07 | [WEEKLY GRAIN MOVEMENT: River market improves as water levels drop](https://feedsoft.ai/events/70373-weekly-grain-movement-river-market-improves-as-water-levels-drop.md) | +1.0% | +5.7% |

## Sources

- breakwaveadvisors.com: https://www.breakwaveadvisors.com/insights/2024/2/28/dry-weekly-market-monitor

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