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The U.S. Grains Council market perspectives note dry bulk markets rose as Capesize activity revived and grain demand improved from the US Gulf and Pacific. Panamax time charter rates from the US Gulf to Asia reached $423,500 per day, and Panama Canal waits for grain vessels were 6-7 days.
Firmer Panamax rates raise the cost of moving US grain to Asia, supporting ocean freight and weighing on US export margins.
grains.orgNov 16, 2023Not 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.
