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The Panama Canal and the Port of Itaqui signed a memorandum of understanding to promote grain and other cargo shipments through the canal to Pacific destinations. The agreement covers joint marketing and sharing trade-flow data.
Dry bulk vessels carried about 22.2 percent of the canal's oceangoing commercial transits in fiscal 2018.
Promoting northern Brazil grain routes through Panama may marginally increase competition for Asian-bound soybean shipments and affect ocean freight routing.
freightwaves.comFreightWaves StaffDec 10, 2018After 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.
