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The Baltic Dry Index settled at 3,346 on Dec. 4, its highest since May 2022, before easing to 3,143 on Dec.
5. Panamax and Supramax spot rates jumped roughly 50% in a month, with Panama Canal restrictions, Brazilian port congestion, European and Chinese winter delays, and Red Sea attacks cited as drivers.
Sharp rises in Panamax and Supramax rates, the main grain carriers, increase the cost of moving grain to importers and can narrow export margins for origins far from buyers.
marketsfarm.comPhil Franz-WarkentinDec 5, 2023Not 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.
