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Signal Ocean's weekly dry bulk report says freight rates began recovering in late November after a monthly decline, while Capesize demand weakened. It also notes Ukrainian grain exports in November were weaker than in September and October.
Weaker Ukrainian grain shipments reduce available supply to importers, mildly supporting wheat and corn, while soft dry bulk demand weighs on freight rates.
breakwaveadvisors.comSignal OceanDec 2, 2022After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 285 past bullish logistics events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.5% to +1.5%), and +0.8% over 20.
Not 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.
