# Brazil’s robust grain harvests and Panama Canal delays boost midsize bulkers, brokers say

> Average spot rates for panamax and supramax bulkers have risen almost 60% since late July, according to the Baltic Exchange. Strong Brazilian grain harvests and Panama Canal delays are cited as the drivers of the increase.

- Date: 2023-09-14 · published 2023-09-14T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33985-brazil-s-robust-grain-harvests-and-panama-canal-delays-boost-midsize-bulkers
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher bulk freight raises the landed cost of grain and meal shipped from South America and the US Gulf, which can narrow export margins and support feed ingredient basis differences.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-08-21 | [Midsize bulkers propelled by South American grain exports, analysts say](https://feedsoft.ai/events/34763-midsize-bulkers-propelled-by-south-american-grain-exports-analysts-say.md) | +1.3% | -3.4% |
| SOY | 2023-04-06 | [Panamax bulker rates hit multimonth high during South America grain harvests](https://feedsoft.ai/events/36598-panamax-bulker-rates-hit-multimonth-high-during-south-america-grain-harvests.md) | -0.7% | -4.1% |
| SOY | 2018-03-16 | [Panama Canal signs MoU to promote grain shipments from Brazil](https://feedsoft.ai/events/65912-panama-canal-signs-mou-to-promote-grain-shipments-from-brazil.md) | -1.1% | +1.3% |
| SOY | 2018-03-15 | [Brazilian Grain Producers Explore Increased Use of Panama Canal](https://feedsoft.ai/events/65910-brazilian-grain-producers-explore-increased-use-of-panama-canal.md) | +0.1% | +3.1% |
| SOY | 2019-04-26 | [The future of the Panama Canal: What’s next for grain and coal shipping - FreightWaves](https://feedsoft.ai/events/59492-the-future-of-the-panama-canal-what-s-next-for-grain-and-coal-shipping.md) | -3.3% | -4.4% |

## Sources

- tradewindsnews.com: https://www.tradewindsnews.com/bulkers/brazil-s-robust-grain-harvests-and-panama-canal-delays-boost-midsize-bulkers-brokers-say/2-1-1518555

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