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The Baltic Dry Index fell 2.68% to 726 points as Lunar New Year holidays cut demand. Capesize tonne-day growth hit a record low, with Brazil-China routes weakening and ships slow-steaming to limit supply.
Grain shipments to China were estimated to fall 51% year-on-year in January as soybean imports dropped on weak crusher margins.
Lower Chinese soybean import demand reduces freight demand for grain shipments and signals weaker crush economics, which pressures soybean and meal prices. Weak freight also lowers the cost of moving feed ingredients to buyers.
msiltd.comMSIJan 31, 2025
seatrade-maritime.comMarcus HandJan 30, 2025After 803 past bearish trade events, SOY moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% over 20.
After 384 past bearish trade events, SBM moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), and -0.5% over 20.
Not 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.
