# Baltic Dry Index Finishes Bumper November

> The Baltic Dry Index rose 8.7% to 3,192 on Friday and gained about 52% for the week, its best week since February. The capesize index jumped 10.8% to 6,237, and the panamax index hit its highest since July 2022 amid congestion in Brazil and Panama Canal restrictions.

- Date: 2023-11-30 · published 2023-11-30T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/32919-baltic-dry-index-finishes-bumper-november
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Panamax and capesize rate spikes raise the cost of moving grain and oilseeds from South America and the Atlantic, which feeds into higher landed prices for imported feed ingredients. Analysts expected rates to stay firm in December before cooling in early 2024.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- gcaptain.com: https://gcaptain.com/baltic-dry-index-finishes-bumper-november/
- marinelink.com: https://www.marinelink.com/news/baltic-dry-bulk-index-doubles-november-509817

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.