# Market Perspectives – October 21, 2021 - Page 9 of 10 - U.S. Grains & BioProducts Council

> The U.S. Grains Council's weekly freight commentary reports that capesize paper markets fell sharply as sellers took profits, with daily hire rates dropping from $85,000 to $50,000. Panamax and supramax rates held better at about $38,000 a day. The analyst described the decline as a technical correction, with the physical trend still moving higher.

- Date: 2021-10-21 · published 2021-10-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44773-market-perspectives-october-21-2021-page-9-of-10-u-s-grains-and-bioproducts
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

A paper-market correction in capesize rates does not yet reverse the physical trend, so grain freight is likely to remain firm. Tight U.S. Gulf to Caribbean freight could support regional feed shipping costs.

## Read by commodity

- OCEANFRT: neutral

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-october-21-2021/9/

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