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Capesize market sentiment improved in early February as miners were active in the Pacific and Chinese New Year cover was secured, though rates eased in C5 trades. Panamax activity was mixed, with firm deferred March dates from EC South America and good trans-Atlantic grain fronthaul demand supporting rates.
Firm Panamax grain fronthaul demand from South America and the US supports ocean freight costs for feed grains and meal, which can narrow origin spreads and lift delivered feed ingredient prices.
drybulkmagazine.comOliver KleinschmidtFeb 12, 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.
