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World Grain reports that dry bulk shipping remains volatile, with the IGC Grains and Oilseeds Freight Index at 128 on May 30, down 44% year on year. The Baltic Dry Index stood at 1,295 in late May after recovering from February lows.
Low freight costs continue to lower the landed cost of imported feed grains and oilseeds for buyers. Geopolitical and China demand risks leave freight upside limited but volatile.
world-grain.comMichael KingJul 12, 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.
