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Intermodal says global grain markets remain stretched by drought, heat, rain, poor yields and geopolitical disruption. Grain freight rates declined from Q2 to Q3 2022 and are lower year on year.
The market is watching China's demand after its easing of COVID restrictions and US railroad and river disruptions.
Softer grain freight reduces shipping costs for feed importers, while expected Chinese demand recovery could firm grain and soymeal prices. Dry bulk rates may get support from Black Sea trade.
hellenicshippingnews.comhellenicshippingnews...Nov 29, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
