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

> A U.S. Grains Council market report says there is little new in freight markets this week beyond crude oil tanker rates, which are surging for storage use at $90,000-150,000/day. Dry-bulk capesize hire is around $9,000-10,000/day and Panamax about $6,000-7,000/day. Container rates remain low, and Clarkson estimates global seaborn trade could fall 5% in 2020.

- Date: 2020-04-23 · published 2020-04-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53845-market-perspectives-april-23-2020-page-9-of-10-u-s-grains-and-bioproducts
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Weak dry-bulk and container earnings point to soft ocean freight costs for grain exports, while the oil-driven tanker spike reflects the storage glut rather than grain demand.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- grains.org: https://grains.org/market_perspectives/market-perspectives-april-24-2020/9/

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