# Market Perspectives – June 22, 2023 - Page 9 of 9 - U.S. Grains & BioProducts Council

> The Wall Street Journal reports the Panama Canal is at its lowest level in more than 100 years, with some vessels cutting container loads by about a quarter. Further restrictions may take effect in late June, and shipowners are moving containers onto rail to get through the locks.

- Date: 2023-06-22 · published 2023-06-22T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35383-market-perspectives-june-22-2023-page-9-of-9-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The canal carries about one-third of Asia-to-Americas seaborne trade, so drought-driven restrictions raise shipping costs and delays for agricultural and other cargo. This supports higher ocean freight rates for US exporters.

## Read by commodity

- SBM: bullish ▲
- CORN: bullish ▲
- DDGS: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2024-03-14 | [Market Perspectives - March 14, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/31093-market-perspectives-march-14-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +1.8% | -5.4% |
| CORN | 2022-02-24 | [Market Perspectives – February 24, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/42611-market-perspectives-february-24-2022-page-9-of-10-u-s-grains-and-bioproducts.md) | +6.5% | +12.3% |
| CORN | 2020-12-03 | [Market Perspectives – December 3, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/49550-market-perspectives-december-3-2020-page-9-of-10-u-s-grains-and-bioproducts.md) | +0.0% | +3.9% |
| CORN | 2018-08-09 | [Market Perspectives - August 9, 2018 - Page 7 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/8650-market-perspectives-august-9-2018-page-7-of-11-u-s-grains-and-bioproducts.md) | -8.4% | -9.8% |
| CORN | 2024-12-12 | [Market Perspectives - December 12, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16978-market-perspectives-december-12-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | -0.0% | +5.6% |
| SBM | 2020-08-27 | [Market Perspectives – August 27, 2020 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/51503-market-perspectives-august-27-2020-page-7-of-10-u-s-grains-and-bioproducts.md) | +3.7% | +14.5% |
| SBM | 2022-07-28 | [DDGS Weekly Market Report – July 28, 2022 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/11491-ddgs-weekly-market-report-july-28-2022-u-s-grains-and-bioproducts-council.md) | -0.9% | -3.5% |
| SBM | 2022-03-24 | [DDGS Weekly Market Report – March 24, 2022 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/42380-ddgs-weekly-market-report-march-24-2022-u-s-grains-and-bioproducts-council.md) | -2.7% | -3.8% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-june-22-2023/6/
- grains.org: https://grains.org/market_perspectives/market-perspectives-june-22-2023/9/

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