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The Baltic Panamax Index rose 51% from January 28 to February 18, 2021, driven largely by a rush of US Gulf soybean shipments to China after backlogged Q4 sales. Spot freight to Qingdao rose from $30 to $47 per tonne in seven weeks.
Soybean export shipments from the US Gulf to China are lifting Panamax demand and freight rates sharply, raising the cost of moving grain and feeding through to landed prices. The freight spike is a key driver of higher delivered grain costs for Asian buyers.
splash247.comSplashFeb 23, 2021Not enough comparable past events yet for a historical read.
After 206 past bullish logistics events, SOY moved a median +0.5% over 5 sessions (56% higher; middle half -1.3% to +2.6%), and +1.4% 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.
