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Trans-Atlantic Supramax spot freight for the Recalada-to-Bejaia grain route fell to $61/mt on April 11 from a year-to-date high of $74/mt on March 31, a drop of over 20%. The decline reflects tonnage oversupply in East Coast South America, even as buyers shifted from the Black Sea to South American grain.
Lower Atlantic Supramax rates reduce the cost of moving South American grain to Europe and North Africa, easing landed prices for importers while the Black Sea disruption continues to shift sourcing.
shippingherald.cominfo infoApr 14, 2022Not 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.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% 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.
