# Grain trade has supported Panamax freight rates but coal risk still remains

> 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.

- Date: 2020-10-19 · published 2020-10-19T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/50534-grain-trade-has-supported-panamax-freight-rates-but-coal-risk-still-remains
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

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.

## Read by commodity

- SOY: neutral
- OCEANFRT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2026-01-18 | [Lower Ocean Freight Rates Could Aid Grain Export Margins - RFD-TV](https://feedsoft.ai/events/16886-lower-ocean-freight-rates-could-aid-grain-export-margins-rfd-tv.md) | +0.4% | +7.2% |
| SOY | 2026-10-22 | [Record diesel costs push grain freight rates higher across all modes \| Feed & Grain](https://feedsoft.ai/events/17227-record-diesel-costs-push-grain-freight-rates-higher-across-all-modes-feed-and.md) | -2.3% | — |
| SOY | 2020-10-02 | [Ocean Freight Rates Hit Lowest In Past 12 Weeks \| Feed & Grain](https://feedsoft.ai/events/50831-ocean-freight-rates-hit-lowest-in-past-12-weeks-feed-and-grain.md) | +2.6% | +2.8% |
| SOY | 2020-01-17 | [Panamax freight spikes in Pacific on Atlantic grain demand, US-China deal \| S&P Global](https://feedsoft.ai/events/54984-panamax-freight-spikes-in-pacific-on-atlantic-grain-demand-us-china-deal-s-and.md) | -2.4% | -3.3% |

## Sources

- spglobal.com: https://www.spglobal.com/marketintelligence/en/mi/research-analysis/grain-trade-has-supported-panamax-freight-rates.html

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