As mid-year approaches, volatility and uncertainty are the key characteristics of dry bulk shipping markets. International grain supply chain stakeholders can expect more of the same during the rest of 2023. Geopolitical turmoil continues to cast a dark cloud over shipping (and grain) supply and demand forecasts. Certainly, relations between the United States and China remain harried, at best, while Russia’s destructive and tragic invasion of Ukraine shows no sign of being resolved any time soon.