# Market Perspectives – July 23, 2020 - Page 9 of 10 - U.S. Grains & BioProducts Council

> Dry-bulk freight markets were described as soft in the week, with Panamax availability tightening in the North Atlantic and East Mediterranean. Sellers were chasing bids lower. Black Sea wheat backhaul to Brazil was creating cheap return rates for soybean and corn shipments to the Mediterranean.

- Date: 2020-07-23 · published 2020-07-23T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/52018-market-perspectives-july-23-2020-page-9-of-10-u-s-grains-and-bioproducts-council
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Cheap backhaul and softer ocean freight lower the delivered cost of South American soybeans and corn into Europe, which can weigh on feed import values.

## Read by commodity

- CORN: bearish ▼
- DDGS: bearish ▼
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-06-29 | [Market Perspectives June 29, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/70388-market-perspectives-june-29-2017-page-9-of-10-u-s-grains-and-bioproducts-council.md) | +5.9% | +3.9% |
| CORN | 2020-08-27 | [Market Perspectives – August 27, 2020 - Page 7 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/51503-market-perspectives-august-27-2020-page-7-of-10-u-s-grains-and-bioproducts.md) | +1.6% | +7.0% |
| CORN | 2017-08-31 | [Market Perspectives August 31, 2017 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/69349-market-perspectives-august-31-2017-page-9-of-10-u-s-grains-and-bioproducts.md) | +3.9% | +4.5% |
| CORN | 2016-11-17 | [Market Perspectives November 17, 2016 - Page 9 of 10 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/73778-market-perspectives-november-17-2016-page-9-of-10-u-s-grains-and-bioproducts.md) | +3.0% | +4.6% |
| CORN | 2018-08-30 | [Market Perspectives - August 30, 2018 - Page 9 of 11 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/63426-market-perspectives-august-30-2018-page-9-of-11-u-s-grains-and-bioproducts.md) | +2.0% | +4.0% |

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-july-23-2020/6/
- grains.org: https://grains.org/market_perspectives/market-perspectives-july-23-2020/9/

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