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Chokepoint

Panama Canal

2024 vintage · annual data, 1–2y lag3 commodities tracked through these waters · 2 scenarios shock this lane

Every commodity below names Panama Canal in its sourced corridor data. Shares are 2024 trade structure — exposure, not a forecast. Where a route share is unknown, no sourced figure was found; unknown is not zero.

Cocoa

1 lane through these waters

Ecuador Pacific shipments

Serves Ecuador

Route share unknown — No route-allocation data found for Ecuadorian cocoa transiting the Panama Canal; the served-exporter share does not imply canal transit. Corridor-share research (Sep 2026): no commodity-specific corridor figure found in public sources -- not zero, just unsourced.

Top exporters worldwide

  • Côte d'Ivoire

    28.9% of world exports

  • Ecuador

    22.5% of world exports

  • Nigeria

    11.8% of world exports

  • Ghana

    7.8% of world exports

  • Netherlands

    7.2% of world exports

Corn

1 lane through these waters

US Gulf export system to Asia

Serves United States · 17% of US corn exports transiting the Panama Canal

Source: farmdoc daily (University of Illinois), 'Ripple effects of shipping lane disruptions on U.S. agriculture', FY2022

Top exporters worldwide

  • United States

    30.3% of world exports

  • Brazil

    18.7% of world exports

  • Argentina

    16.4% of world exports

  • Ukraine

    13.1% of world exports

  • France

    2.3% of world exports

Scenarios that shock this lane

What if a 2012-style drought hits the US corn belt? · United States

  • 99.8% of Mexico’s corn imports come from United States

  • 83% of Japan’s corn imports come from United States

  • 24.7% of South Korea’s corn imports come from United States

Soybeans

1 lane through these waters

Panama Canal

Serves United States · 26% of US soybean exports transiting the Panama Canal

Source: farmdoc daily (University of Illinois), 'Ripple effects of shipping lane disruptions on U.S. agriculture', FY2022

Top exporters worldwide

  • Brazil

    53.6% of world exports

  • United States

    30.7% of world exports

  • Paraguay

    4% of world exports

  • Canada

    3.1% of world exports

  • Argentina

    2.3% of world exports

Scenarios that shock this lane

What if low water chokes the Panama Canal again? · United States

  • 63.9% of Mexico’s soybeans imports come from United States

  • 27.1% of Spain’s soybeans imports come from United States

  • 25.9% of China’s soybeans imports come from United States

Illustrative scenario lens — not a prediction, not financial advice.