# Baltic Index Extends Fall On Lower Vessel Demand

> 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.

- Date: 2022-11-02 · published 2022-11-02T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/38879-baltic-index-extends-fall-on-lower-vessel-demand
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

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.

## Read by commodity

- WHEAT: neutral
- OCEANFRT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-09-26 | [Focus: Russia expands Baltic ports as it eyes new grain markets](https://feedsoft.ai/events/14268-focus-russia-expands-baltic-ports-as-it-eyes-new-grain-markets.md) | +1.0% | -6.2% |
| WHEAT | 2017-07-25 | [GrainCorp locked in Vic pay battle \| Ballarat, VIC](https://feedsoft.ai/events/69974-graincorp-locked-in-vic-pay-battle-ballarat-vic.md) | +6.7% | -1.2% |
| WHEAT | 2017-04-13 | [Decreased demand for grain transportation lowers shipping rates \| World-grain.com \| April 13, 2017 14:17 \| World Grain](https://feedsoft.ai/events/71400-decreased-demand-for-grain-transportation-lowers-shipping-rates-world-grain-com.md) | -1.5% | +1.7% |
| WHEAT | 2017-02-12 | [Workers of lighter vessels continue strike \| The Daily Star](https://feedsoft.ai/events/72501-workers-of-lighter-vessels-continue-strike-the-daily-star.md) | -1.1% | -1.8% |
| WHEAT | 2023-01-31 | [Wheat prices on world exchanges have risen, and in Ukraine they are pressured by the delay in the approach of the courts](https://feedsoft.ai/events/37826-wheat-prices-on-world-exchanges-have-risen-and-in-ukraine-they-are-pressured-by.md) | +2.2% | -4.4% |

## Sources

- marinelink.com: https://www.marinelink.com/news/baltic-index-extends-fall-lower-vessel-500656

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