# Baltic Dry Index Soars to 18-Month High on Capesize Surge

> 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.

- Date: 2023-11-29 · published 2023-11-29T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33365-baltic-dry-index-soars-to-18-month-high-on-capesize-surge
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- gcaptain.com: https://gcaptain.com/baltic-dry-index-soars-to-18-month-high-on-capesize-surge/

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