# Dry Bulk Market Under Pressure in Early 2023 | Sea and Job

> Shipbroker Intermodal reports the dry bulk market under pressure in early 2023, with the BDI at levels last seen in summer 2020. It expects higher 2022/23 wheat output from the EU and Russia and a rebound in South American corn and soybean crops as La Nina fades.

- Date: 2023-01-27 · published 2023-01-27T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/37990-dry-bulk-market-under-pressure-in-early-2023-sea-and-job
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expected larger South American crops and higher EU and Russian wheat supplies add to global grain availability, which tends to pressure feed grain and wheat prices lower while weighing on bulk freight demand.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-12-06 | [Competitive Black Sea wheat pressuring prices, explained: Grain market daily \| AHDB](https://feedsoft.ai/events/38266-competitive-black-sea-wheat-pressuring-prices-explained-grain-market-daily-ahdb.md) | +9.9% | +9.2% |
| WHEAT | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | +3.4% | +5.1% |
| WHEAT | 2024-02-08 | [La Niña in 2024 could drive grain prices: Grain market daily \| AHDB](https://feedsoft.ai/events/31588-la-nina-in-2024-could-drive-grain-prices-grain-market-daily-ahdb.md) | -4.2% | -1.8% |
| WHEAT | 2024-08-23 | [Wheat prices in Ukraine fall under pressure from falling world prices](https://feedsoft.ai/events/28813-wheat-prices-in-ukraine-fall-under-pressure-from-falling-world-prices.md) | -0.2% | +2.8% |
| WHEAT | 2021-03-25 | [Increased pressure fundamentals launched down the wheat markets](https://feedsoft.ai/events/48164-increased-pressure-fundamentals-launched-down-the-wheat-markets.md) | -0.8% | +0.5% |
| CORN | 2026-10-27 | [CBoT corn drops on US harvest pressure - Markets - Business Recorder](https://feedsoft.ai/events/421-cbot-corn-drops-on-us-harvest-pressure-markets-business-recorder.md) | +0.0% | — |
| CORN | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | +1.7% | -6.0% |
| CORN | 2024-12-08 | [Surprising yields, impressive genetics and an early harvest in 2024 – Ohio Ag Net \| Ohio's Country Journal](https://feedsoft.ai/events/13132-surprising-yields-impressive-genetics-and-an-early-harvest-in-2024-ohio-ag-net.md) | +1.9% | +6.3% |

## Sources

- seaandjob.com: https://www.seaandjob.com/dry-bulk-market-under-pressure-in-early-2023/

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