# Panamax bulker rates hit multimonth high during South America grain harvests

> Panamax bulker rates reached their highest level in almost six months as Brazil and Argentina harvest soybeans and corn. Brazil is expected to export around 92.3 million tonnes of soybeans in the 2022-23 marketing year.

- Date: 2023-04-06 · published 2023-04-06T12:00:00.000Z
- Category: logistics · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/36598-panamax-bulker-rates-hit-multimonth-high-during-south-america-grain-harvests
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Heavy South American export loadings lift Panamax freight demand, which raises ocean freight costs for grain and meal cargoes bound for importers.

## 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 | 2023-09-14 | [Brazil’s robust grain harvests and Panama Canal delays boost midsize bulkers, brokers say](https://feedsoft.ai/events/33985-brazil-s-robust-grain-harvests-and-panama-canal-delays-boost-midsize-bulkers.md) | -1.2% | -6.2% |
| SOY | 2020-10-19 | [Grain trade has supported Panamax freight rates but coal risk still remains](https://feedsoft.ai/events/50534-grain-trade-has-supported-panamax-freight-rates-but-coal-risk-still-remains.md) | +3.2% | +8.7% |
| SOY | 2023-09-15 | [Dry bulk spot market mounts week of broad gains as bauxite and South American grain trades surge](https://feedsoft.ai/events/34301-dry-bulk-spot-market-mounts-week-of-broad-gains-as-bauxite-and-south-american.md) | -3.7% | -4.0% |
| SOY | 2026-10-22 | [Record diesel costs push grain freight rates higher across all modes \| Feed & Grain](https://feedsoft.ai/events/17227-record-diesel-costs-push-grain-freight-rates-higher-across-all-modes-feed-and.md) | -2.3% | — |

## Sources

- tradewindsnews.com: https://www.tradewindsnews.com/bulkers/panamax-bulker-rates-hit-multimonth-high-during-south-america-grain-harvests/2-1-1431732?zephr_sso_ott=HeZvMl

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