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Supramax trans-Atlantic grain rates from Argentina's Recalada to Bejaia fell through the third and fourth quarters of 2022 after drought cut Argentine cargoes. Spot rates have now hit multiyear lows in January, though they are showing signs of finding a floor.
Weak drought-driven export volumes from Argentina are keeping ocean freight soft, which lowers shipping costs for buyers of Argentine grain and meal.
shippingherald.cominfo infoJan 31, 2023Not enough comparable past events yet for a historical read.
After 284 past neutral logistics events, Corn moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.4%), and -0.2% over 20.
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.
