# BIMCO: Shipping Number of The Week - Key US grain exports could fall 15% in 2023, brighter outlook ahead

> BIMCO reports that US soybean, maize and wheat exports could fall 15% in 2023 after drought cut 2022 harvests, with a recovery expected from Q4 as the US maize harvest comes in. Global grain shipments are estimated down 4% y/y in the first seven months of 2023, and Panamax earnings are at their weakest July since 2016.

- Date: 2023-07-20 · published 2023-07-20T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/35232-bimco-shipping-number-of-the-week-key-us-grain-exports-could-fall-15-in-2023
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower US export volumes and weak grain shipments keep Panamax freight rates depressed, while Brazilian maize and soybean exports partly offset the gap. Lower US grain availability for export is mildly supportive for competing origins' prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-08-15 | [USGC: Exports of U.S. feed grains setting records  \| World-grain.com \| August 15, 2017 19:21 \| World Grain](https://feedsoft.ai/events/69454-usgc-exports-of-u-s-feed-grains-setting-records-world-grain-com-august-15-2017.md) | -3.4% | -5.0% |
| CORN | 2026-03-01 | [Will Ukraine be able to export all of its grain in 2026?](https://feedsoft.ai/events/14133-will-ukraine-be-able-to-export-all-of-its-grain-in-2026.md) | +2.0% | +5.1% |
| CORN | 2024-11-14 | [Mexico was the biggest buyer of US agricultural exports in FY 2024](https://feedsoft.ai/events/27397-mexico-was-the-biggest-buyer-of-us-agricultural-exports-in-fy-2024.md) | +0.2% | +0.4% |
| CORN | 2020-11-20 | [Feed weekly outlook: Export demand supports grain prices - Grainews](https://feedsoft.ai/events/50227-feed-weekly-outlook-export-demand-supports-grain-prices-grainews.md) | +0.1% | +1.2% |
| CORN | 2018-11-29 | [Feed weekly outlook: Corn imports set to drop - Grainews](https://feedsoft.ai/events/9512-feed-weekly-outlook-corn-imports-set-to-drop-grainews.md) | +7.6% | +8.3% |
| SOY | 2021-08-17 | [India could allow soybean meal imports \| 2021-08-17  \| World Grain](https://feedsoft.ai/events/45647-india-could-allow-soybean-meal-imports-2021-08-17-world-grain.md) | -6.0% | -7.2% |
| SOY | 2017-03-24 | [USDA exports – Corn, soybean, wheat sales up for the week](https://feedsoft.ai/events/71846-usda-exports-corn-soybean-wheat-sales-up-for-the-week.md) | -2.8% | -4.0% |
| SOY | 2020-04-23 | [Falling prices buoys China’s purchases of US soybeans \| 2020-04-23  \| World Grain](https://feedsoft.ai/events/53505-falling-prices-buoys-china-s-purchases-of-us-soybeans-2020-04-23-world-grain.md) | -0.4% | +1.4% |

## Sources

- ilnautilus.it: https://www.ilnautilus.it/trasporti/2023-07-20/shipping-exports-brighter_120756/

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