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A Capesize bulker, the MV Pacific Myra controlled by Cargill, is reported to be scheduled to load grain at Paranagua, Brazil, for a Panamax-sized cargo to Europe. The move follows a wide freight spread that makes Capesize ships cheaper per tonne than Panamax on this route.
Using Capesize tonnage for grain signals Panamax freight is costly enough to draw unusual ships into grain trades, a sign of tight dry bulk supply. This supports freight costs for Brazilian grain exports.
spglobal.comFeb 26, 2021Not enough comparable past events yet for a historical read.
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.
