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Dry bulk spot freight rates rose broadly over the week, led by bauxite and South American grain trades. Analysts attributed part of the sentiment to expectations of China's pending economic stimulus.
Higher freight rates raise landed costs for grain imports into Asia, supporting ocean freight and tightening spreads on South American soybean and corn flows.
tradewindsnews.comMichael JulianoSep 15, 2023Not enough comparable past events yet for a historical read.
After 230 past neutral logistics events, Soybeans moved a median +0.4% over 5 sessions (55% higher; middle half -1.4% to +2.0%), and +0.1% over 20.
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.
