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The International Grains Council's Grains and Oilseeds Freight Index fell from 177 points in mid-December 2023 to 129 on Dec. 10, 2024.
Shipping consultancy MSI reported that owners' expected late-2024 seasonal demand spike was met by sharply lower freight rates. Weaker Brazilian iron ore exports to China weighed on capesize rates and the broader bulk market.
Lower bulk freight reduces delivered costs for grain and meal importers, but a fleet with modest 2025 expansion could support rates if demand recovers.
world-grain.comMichael KingDec 20, 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.
