Freight rates of grain and soybean keep declining in the world market. In the Atlantic basin Argentina remained the major factor having influence on the market.
The supply of Argentine grain has already increased in the world market, but larger sales are expected later. According to former tax authority chief of Argentina, the volume of agricultural products stocks, which have not been supplied to the market is for the amount of USD 11.4 billion. At the same time the volume of soybean which can be exported is for the amount of USD 6 billion, corn – for USD 4.3 billion, and wheat – for USD 2 billion. Market operators note that supply of Argentine grain may increase with further adjustment of Argentine peso exchange rate.
However, increasing supply of grain from Argentina did not influence freight quotations due to inflow of a significant number of free fleet in the region. According to information service "Promyshlennye gruzy", brokers estimate the supply of agricultural products from Brazil to China in the amount of Panamax-size consignment at USD 14-14.5 / MT.