# Bulk ocean freight at highest level of past year - Grainews

> 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.

- Date: 2023-10-19 · published 2023-10-19T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/33812-bulk-ocean-freight-at-highest-level-of-past-year-grainews
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

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.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- grainews.ca: https://www.grainews.ca/daily/bulk-ocean-freight-at-highest-level-of-past-year/

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