# Market Perspectives – July 21, 2022 - Page 9 of 10 - U.S. Grains & BioProducts Council

> Dry-bulk freight markets continued to slide, with Panamax rates from the US Gulf to China falling from $78/MT to $68/MT over 30 days. Soft Chinese cargo demand and recession fears are weighing on outlooks, and Panamax FFA for 2023 fell sharply. A trucker protest also shut the Port of Oakland.

- Date: 2022-07-21 · published 2022-07-21T12:00:00.000Z
- Category: logistics · region US · magnitude low
- Page: https://feedsoft.ai/events/40678-market-perspectives-july-21-2022-page-9-of-10-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower Panamax rates from the US Gulf reduce ocean freight costs for US feed grains and meal exported to China, which can narrow FOB spreads for US corn and soybeans.

## Read by commodity

- SOY: neutral
- CORN: neutral
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-03-26 | [Market Perspectives – March 26, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/54041-market-perspectives-march-26-2020-page-9-of-10-u-s-grains-and-bioproducts.md) | +3.9% | -3.7% |
| CORN | 2017-03-02 | [Market Perspectives March 2, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/71885-market-perspectives-march-2-2017-page-9-of-10-u-s-grains-and-bioproducts-council.md) | -2.8% | -3.1% |
| CORN | 2017-09-21 | [Market Perspectives September 21, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69170-market-perspectives-september-21-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +0.5% | +2.4% |
| CORN | 2024-04-25 | [Market Perspectives - April 25, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/30623-market-perspectives-april-25-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | +0.7% | +4.5% |
| CORN | 2024-11-21 | [Market Perspectives - November 21, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16984-market-perspectives-november-21-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | -3.5% | +1.6% |
| SOY | 2017-10-19 | [Market Perspectives October 19, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/68360-market-perspectives-october-19-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | -0.9% | -0.8% |
| SOY | 2024-04-25 | [Market Perspectives - April 25, 2024 - Page 6 of 9 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/30623-market-perspectives-april-25-2024-page-6-of-9-u-s-grains-and-bioproducts-council.md) | -0.9% | +6.9% |
| SOY | 2024-11-21 | [Market Perspectives - November 21, 2024 - Page 6 of 7 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/16984-market-perspectives-november-21-2024-page-6-of-7-u-s-grains-and-bioproducts.md) | -0.2% | -2.8% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-july-21-2022/9/

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