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The Baltic Dry Index rose for seven straight sessions to 935 points, recovering from a low of 530 on February 16, driven partly by higher iron ore shipments from Brazil and Australia. Container rates continued to fall, with the Drewry World Container Index at US$1,898 per 40-foot box, 82% below its September 2021 peak.
Bulk freight recovering from its lows points to higher ocean costs for grain and oilseed exports, while the container slump does not directly affect bulk feed commodity flows.
grainews.caPhil Franz-Warkentin, GFM Network NewsFeb 28, 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.
