Dry-bulk freight markets are mixed this week with pre-holiday trade driving diverging trends. The Capesize sector saw some strength, primarily in the Atlantic, with demand for Brazilian loadings driving the market.  Panamax and Supramax markets, in contrast, saw weaker pricing as ballaster tonnage increased and ECSA demand softened. Grain importers have mostly covered their early January needs from South America, which created pressure in the Atlantic basin. Vessel owners are hoping Brazil’s large soybean crop and a possible improvement in Chinese steel output will support rates in early 2026, but the seasonal holiday lull and increased availability of spot tonnage are suggesting rates may wait a while before moving higher. ...