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Signal Ocean's weekly dry bulk report says grain flows from Russia to Turkey and Egypt hit a two-year high in March, with Handysize and Panamax vessels taking large shares. It also notes that extending the Black Sea grain trade will boost demand sentiment, while port congestion and excess Handysize tonnage limit the rally.
Strong Russian grain export volumes support freight demand and firm Q2 dry bulk rates, while excess small-vessel supply caps the upside in ocean freight costs for feed grain buyers.
breakwaveadvisors.comSignal OceanMar 29, 2023breakwaveadvisors.comBraemarMar 31, 2023Not enough comparable past events yet for a historical read.
After 406 past neutral report events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -1.6% to +1.5%), and +0.0% 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.
