# Panamax derivatives come back to life ahead of expected upturn in spot market

> Panamax freight forward agreements rebounded on Wednesday, with July contracts closing $1,632 higher at $34,782 per day and August up about $1,625 at $35,075 per day. The move followed talk that physical panamax spot rates had bottomed, after a strong grain trade, especially cargoes bound for China, lifted spot markets to 11-year highs earlier in June.

- Date: 2021-06-23 · published 2021-06-23T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/46462-panamax-derivatives-come-back-to-life-ahead-of-expected-upturn-in-spot-market
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher dry bulk freight raises the landed cost of grain and meal shipped from South America and the Black Sea, narrowing export netbacks and supporting delivered feed prices in importing regions.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- tradewindsnews.com: https://www.tradewindsnews.com/bulkers/panamax-derivatives-come-back-to-life-ahead-of-expected-upturn-in-spot-market/2-1-1029771?zephr_sso_ott=uWrdwr

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