# Weak Vessel Demand Drags Baltic Dry Index Down Further

> The Baltic Exchange's main sea freight index dropped 67 points to 976 on January 12, its lowest since early September, on weaker demand across capesize, panamax and supramax vessels. Panamax earnings fell to a two-and-a-half-year low, and the Buenos Aires grains exchange warned it could cut Argentine soy and corn forecasts by up to 25% if drought persists.

- Date: 2023-01-12 · published 2023-01-12T12:00:00.000Z
- Category: market · region Argentina · magnitude low
- Page: https://feedsoft.ai/events/37678-weak-vessel-demand-drags-baltic-dry-index-down-further
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower freight rates cut shipping costs for grain and meal, while the possible Argentine crop cut would tighten soy and corn supplies and support feed prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- OCEANFRT: bearish ▼

## Sources

- gcaptain.com: https://gcaptain.com/weak-vessel-demand-drags-baltic-dry-index-down-further/

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