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The Baltic Dry Index fell for a sixth straight session on October 13, dropping about 3% to 1,818 as rates declined across capesize, panamax and supramax vessels. Iron ore futures hit a three-week low and spot prices reached an 11-month low amid weak Chinese demand.
Fearnleys noted some grain trips paying premiums over mineral trades, but activity was limited.
Falling dry bulk rates and weak Chinese steel-related demand point to lower ocean freight costs for grain, with little direct effect on feed ingredient prices.
marinelink.comOct 13, 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.
