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The Baltic Dry Index fell 6.1% to 3,143 on Tuesday, snapping an eight-session winning streak, as capesize rates dropped 9.7% to 5,946. Panamax rates eased 0.7% and supramax hit a one-year high.
A pullback in capesize and panamax rates lowers near-term ocean freight costs for bulk feed ingredients, though rates remain elevated relative to last year. The move is a routine day-to-day shift rather than a new supply or demand shock.
gcaptain.comReutersDec 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.
