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Panamax freight rates on Pacific routes surged on Thursday, with a Kamsarmax rate from North China jumping 90 percent day on day. The increase was driven by a flurry of South American grain cargoes and expectations of added US-China Phase 1 trade deal shipments.
Stronger Panamax demand lifts ocean freight costs for South American soybeans and grains to Asia, supporting delivered prices for feed importers while Brazil races to export ahead of US volumes.
spglobal.comRason Chen, Shriram SivaramakrishnanJan 17, 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.
