Brazil is set to overtake the U.S. as the biggest soybean exporter this year, according to data from the U.S. Department of Agriculture.
Rates for the largest ships to navigate the Panama Canal advanced 1.6 percent to $9,138 a day, according to the London-based Baltic Exchange. That’s the biggest one-day gain since March 7, data from the exchange show.
Argentina’s corn shipments are rising while Brazil is set to overtake the U.S. as the biggest soybean exporter this year, according to data from the U.S. Department of Agriculture. Panamax rates climbed for five consecutive days, the longest winning streak since one that ended March 25, bourse data show.