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The Baltic Dry Index rose for a fifth straight session on November 29 to an 18-month high of 2,696, its highest since May 2022. The capesize index jumped 20.6% to 5,040, and the Panama Canal's drought-related restrictions were cited as a factor.
Higher dry bulk rates raise the cost of moving bulk commodities such as grain and meal, which can narrow the gap between US Gulf and export-market prices. Freight strength tends to support landed feed ingredient costs for importers.
gcaptain.comReutersNov 29, 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.
