# Baltic Dry Index Hits Fresh Multi-Year Low

> The Baltic Exchange's main sea freight index fell for a sixth straight session on January 24, 2023, touching a 2-1/2-year low of 721. Capesize rates dropped 6.8% to 685, and panamax rates also hit a more than two-year low.

- Date: 2023-01-24 · published 2023-01-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37989-baltic-dry-index-hits-fresh-multi-year-low
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower ocean freight rates reduce the landed cost of grain and meal imports, which can ease basis and delivered feed prices for importers, though weak freight also signals softer global trade volumes.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- gcaptain.com: https://gcaptain.com/baltic-dry-index-hits-fresh-multi-year-low/

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