Loading…
The Baltic Dry Index settled at 2,058 points on October 17, its first close above 2,000 since July 2022 and its highest level in the past year. Container rates fell sharply year over year, while bulk rates trended higher over the past two months.
Canada's freight position relative to competitors is noted as a factor in grain export competitiveness.
A BDI near one-year highs signals rising bulk ocean freight costs, which increases landed costs for grain and oilseed imports and reduces Canadian export competitiveness at the margin.
grainews.caPhil Franz-Warkentin, GFM Network NewsOct 19, 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.
