# Freight rates rebound on stronger Chinese soybean demand - Fastmarkets

> Fastmarkets reports that freight rates rose in the week to July 12, with Brazil-Northeast Asia rates up to $35.10 per tonne and US Gulf-Northeast Asia up to $46.20. Demand was lifted by stronger Chinese soybean buying, improved Chinese crush margins and a USDA planted-area cut for US soybeans.

- Date: 2023-07-19 · published 2023-07-19T12:00:00.000Z
- Category: trade · region China · magnitude low
- Page: https://feedsoft.ai/events/35234-freight-rates-rebound-on-stronger-chinese-soybean-demand-fastmarkets
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher Chinese import demand for South American beans supports soybean freight and prices, and a smaller expected US crop tightens export availability. The rebound signals firmer ocean freight for oilseed cargoes.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2020-07-16 | [Soybean Rises on Stronger Chinese Demand](https://feedsoft.ai/events/52164-soybean-rises-on-stronger-chinese-demand.md) | +1.5% | +0.5% |
| SOY | 2026-10-28 | [Strong Chinese demand supports soybean recovery in Chicago - SAFRAS & Market](https://feedsoft.ai/events/140-strong-chinese-demand-supports-soybean-recovery-in-chicago-safras-and-market.md) | -1.6% | — |
| SOY | 2021-09-14 | [China snaps up Brazil soybeans on urgent demand, tight US supply - Fastmarkets](https://feedsoft.ai/events/45119-china-snaps-up-brazil-soybeans-on-urgent-demand-tight-us-supply-fastmarkets.md) | -0.8% | -3.5% |
| SOY | 2026-04-10 | [Canada Know-Risk Market Outlook \| Soybean Meal Rallies on Strong Demand](https://feedsoft.ai/events/11667-canada-know-risk-market-outlook-soybean-meal-rallies-on-strong-demand.md) | -0.1% | +1.0% |
| SOY | 2021-04-13 | [China's Q1 soybean, grains imports surge on strong demand](https://feedsoft.ai/events/11178-china-s-q1-soybean-grains-imports-surge-on-strong-demand.md) | +4.9% | +17.2% |
| SBM | 2026-04-10 | [Canada Know-Risk Market Outlook \| Soybean Meal Rallies on Strong Demand](https://feedsoft.ai/events/11667-canada-know-risk-market-outlook-soybean-meal-rallies-on-strong-demand.md) | +4.4% | +2.0% |
| SBM | 2020-09-24 | [US soybean demand firm on Chinese state-owned companies' purchases: sources](https://feedsoft.ai/events/50986-us-soybean-demand-firm-on-chinese-state-owned-companies-purchases-sources.md) | -0.7% | +10.7% |
| SBM | 2020-12-17 | [Soybean Demand Stays Strong \| Red River Farm Network](https://feedsoft.ai/events/49683-soybean-demand-stays-strong-red-river-farm-network.md) | +6.8% | +16.7% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/freight-rates-rebound-on-stronger-chinese-soybean-demand/

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