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Splash reviews dry bulk segments for October, noting Panamax rates rose on South China to Indonesia voyages and on Asia-to-Europe backhauls as tonnage moved to the Atlantic for the North American grain season. Capesize rates fell over the month on the Hedland-Qingdao and Tubarao-Qingdao routes.
Higher Panamax rates tied to the North American grain season point to firmer ocean freight costs for grain exports, while weaker Capesize rates are less relevant to feed.
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.