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The Baltic Exchange's dry bulk freight index fell about 4.1% to 1,321 on November 2, extending its decline to an 11th session as demand weakened across capesize, panamax and supramax segments. The supramax index hit a more than 20-month low.
Russia also said it would resume participation in the Ukraine grain export deal.
Weaker dry bulk freight rates lower the cost of shipping grains and oilseeds, which can narrow origin-destination basis but signals softer global trade demand. The Russia grain deal resumption may ease Black Sea supply worries.
marinelink.comReutersNov 2, 2022Not enough comparable past events yet for a historical read.
After 163 past neutral logistics events, WHEAT moved a median +0.1% over 5 sessions (53% higher; middle half -1.3% to +1.1%), and -0.3% over 20.
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.
