Spot rates for supramax bulkers are sustaining an 11-year high amid a surge in grain demand.

On Monday, the supramax 10TC — a weighted average of spot rates across 10 routes — hit $26,712 per day, marking the third consecutive trading day that the asset class has attained rates above $26,000 per day.

The last time supramaxes reached that level was on 9 June 2010, when this Baltic Exchange average, which back then factored in only six routes, came in at $26,380 per day.