# Suez Canal Unblocked | Feed & Grain

> Suez Canal traffic is resuming after the grounded container ship was released, with about 140 ships expected to transit on March 30. Around 369 vessels were waiting, and ocean freight rates were at record highs. Black Sea wheat and corn export prices fell $7 to $21 per tonne for the week.

- Date: 2021-03-30 · published 2021-03-30T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/48033-suez-canal-unblocked-feed-and-grain
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Clearing the canal eases the freight premium that had built up, which supports lower delivered costs for Black Sea grain into Asia. Lower Black Sea FOB prices add pressure on world wheat values.

## Read by commodity

- WHEAT: bearish ▼
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-10-02 | [CN Rail, Union Reach Tentative Agreement \| Feed & Grain](https://feedsoft.ai/events/50672-cn-rail-union-reach-tentative-agreement-feed-and-grain.md) | +1.9% | +3.6% |
| WHEAT | 2021-01-07 | [Argentine Grains Inspectors End Strike \| Feed & Grain](https://feedsoft.ai/events/49137-argentine-grains-inspectors-end-strike-feed-and-grain.md) | +0.8% | -4.1% |
| WHEAT | 2023-07-27 | [Grain Journal \| USDA Grain Transportation Report (7/27): Panama Canal…](https://feedsoft.ai/events/34948-grain-journal-usda-grain-transportation-report-7-27-panama-canal.md) | +0.0% | -2.0% |
| WHEAT | 2021-03-11 | [Feedgrain Focus: Prices ease as sorghum weighs in - Grain Central](https://feedsoft.ai/events/48167-feedgrain-focus-prices-ease-as-sorghum-weighs-in-grain-central.md) | -0.4% | -0.1% |
| WHEAT | 2022-08-14 | [Ship carrying first Ukraine grain cargo nears Syria](https://feedsoft.ai/events/14465-ship-carrying-first-ukraine-grain-cargo-nears-syria.md) | -1.7% | -10.8% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/events/event-calendar/blog/15387603/suez-canal-unblocked

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