# Cargill turns to capesize for Brazil-EU route amid panamax surge - Fastmarkets

> Cargill has reportedly booked the 180,000 mt capesize vessel MV Pacific Myra to carry grain, likely soybeans, from Santos to Rotterdam. The move substitutes a larger ship for the usual panamax after panamax freight rates jumped sharply in February.

- Date: 2021-03-03 · published 2021-03-03T12:00:00.000Z
- Category: logistics · region Brazil · magnitude low
- Page: https://feedsoft.ai/events/48314-cargill-turns-to-capesize-for-brazil-eu-route-amid-panamax-surge-fastmarkets
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Switching to a capesize cuts freight costs by an estimated $13-15/mt on this route, but sources expect it to be a one-time fixture. Tight panamax supply raises landed costs for feed ingredients into Europe.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2018-03-16 | [Panama Canal signs MoU to promote grain shipments from Brazil](https://feedsoft.ai/events/65912-panama-canal-signs-mou-to-promote-grain-shipments-from-brazil.md) | -1.1% | +1.3% |
| SOY | 2023-09-14 | [Brazil’s robust grain harvests and Panama Canal delays boost midsize bulkers, brokers say](https://feedsoft.ai/events/33985-brazil-s-robust-grain-harvests-and-panama-canal-delays-boost-midsize-bulkers.md) | -1.2% | -6.2% |
| SOY | 2021-02-26 | [Costly Panamax freight sees Capesize ore carrier loading grains](https://feedsoft.ai/events/48520-costly-panamax-freight-sees-capesize-ore-carrier-loading-grains.md) | +0.7% | +0.6% |
| SOY | 2024-07-12 | [Pacific Northwest sees increased exports due to Panama Canal drought - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/17015-pacific-northwest-sees-increased-exports-due-to-panama-canal-drought-agweek-1.md) | -3.9% | -11.6% |
| SOY | 2020-07-20 | [Argentina's loss in soy oil exports due to Paraná river drought is Brazil's gain - DatamarNews](https://feedsoft.ai/events/51948-argentina-s-loss-in-soy-oil-exports-due-to-parana-river-drought-is-brazil-s.md) | +0.8% | +0.6% |

## Sources

- fastmarkets.com: https://www.fastmarkets.com/insights/cargill-turns-to-capesize-for-brazil-eu-route-amid-panamax-surge/

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