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The Baltic Dry Index closed at 1,890 points on September 23, 2024, trading sideways after a brief move above 2,000 earlier in the month. Panamax values, which carry grain cargoes, fell nearly 20% since late July.
China's August soybean imports were tracked at 11.08 million tonnes by LSEG and 12.14 million by customs, mostly from Brazil.
Weaker Panamax rates lower the cost of moving grain and soybeans on key routes, but Brazil-to-China demand still supports Capesize and Panamax activity. Freight costs feed into landed grain prices for importers.
new.marexmedia.comMarexSep 23, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
