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The Signal Dry Bulk weekly report says freight rates for smaller vessel classes are weakening while Capesize shows upward momentum. Iron ore prices recovered from a two-year low but remain well below their March 2022 peak.
Reports that Russia would extend the Black Sea grain agreement had eased Bosphorus canal congestion.
Dry bulk freight rates feed into the landed cost of grain and soybean meal imports, so weaker Supramax and Handysize rates lower shipping costs for feed buyers. A Black Sea grain deal extension could lift those rates again.
breakwaveadvisors.comSignal OceanNov 17, 2022Not 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.
