Strong Soybean Supply Lifts Grain Volumes 15% and Supports Panamax Market

Global seaborne grain shipments jumped about 15% year-on-year in the first six weeks of 2026, driven mainly by a 30% surge in soybean loadings and a 17% rise in wheat exports. BIMCO analysis notes that record Southern Hemisphere harvests, especially in Brazil, and continued export surplus from North America are underpinning this early-year strength in bulk grain flows.

A new US–China trade agreement has further boosted volumes, with US soybean shipments to China up 26% year-on-year and sorghum exports resuming, adding to tonne-mile demand. In this environment, Panamax earnings have started 2026 well above last year’s levels, with January average time-charter benchmarks up around 65% versus 2025, reflecting both strong grain demand and tighter effective vessel supply.