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Oklahoma Farm Report says dry-bulk freight rates have fallen over the past three months after peaking in the second quarter of 2022, although rates recently recovered. Weaker Chinese economic growth under zero-COVID policies cut iron ore trade by 6% year on year last month.
Rerouted Russian coal flows have added some demand.
Freight costs for grain shipments remain volatile, with weak Chinese demand limiting upside while a recovery in rates would raise transport costs. Buyers should watch freight levels when pricing imported feed ingredients.
oklahomafarmreport.comSpencer AndersonSep 19, 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.
