# Dry Weekly Market Monitor — Breakwave Advisors

> Dry bulk freight held relatively stable in late February, with Capesize Brazil to North China rates near the year's highs at just below $22 per tonne. Panamax Continent to Far East rates rose, while Supramax Indo rates stayed weak, and demand tonne-day growth continued to decline from late-2023 peaks.

- Date: 2024-02-21 · published 2024-02-21T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/31875-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

Sustained strength on the Brazil-to-China capesize lane keeps ocean freight a cost component for Brazilian soy and feed exports to Asia, while slowing demand growth limits how much further rates can rise.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2024-02-28 | [Dry Weekly Market Monitor — Breakwave Advisors](https://feedsoft.ai/events/31873-dry-weekly-market-monitor-breakwave-advisors.md) | +0.8% | +6.0% |
| 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/2024/2/21/dry-weekly-market-monitor

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