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Signal Ocean's weekly dry bulk report shows Brazilian soybean exports to China running above last year, with Capesize rates firmer and Panamax, Supramax and Handysize weaker. The report notes uncertainty over extending the Black Sea Grain Initiative ahead of the May 18 Russian deadline.
Rising Brazil-to-China soybean flows support Panamax demand and freight, while Black Sea uncertainty adds risk to grain shipping costs and wheat and corn availability.
breakwaveadvisors.comSignal OceanMay 17, 2023After 206 past bullish logistics events, Soybeans moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% over 20.
Not 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.
