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Brazilian port operators linked to Cargill and Bunge plan to propose lower Panama Canal tariffs. They argue that shipping grain from northern Brazil via the Cape of Good Hope is about $206,000 cheaper per ship than using the Canal.
If canal fees fall, Brazil-to-China grain freight could become cheaper and faster by 4-5 days, which would ease ocean freight costs for Brazilian exports. Lower freight would tend to weigh on freight rates.
feedandgrain.comDec 1, 2020Not enough comparable past events yet for a historical read.
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.
