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S&P Global analysis says Panamax freight has been supported this year by strong grain demand, particularly Chinese soybean imports and US-China phase one purchase commitments. Rates spiked in mid-August before falling sharply below USD10,000/day in September as Black Sea and Brazilian grain volumes faded.
Stronger grain shipping demand supports bulk freight costs that feed into landed feed ingredient prices, while the fading seasonal flows and coal trade risk point to softer freight ahead.
spglobal.comOct 19, 2020Not 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.
