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The U.S. Grains Council weekly market perspectives report says dry-bulk freight markets slid for most of the week before bouncing at the end. Q3 Panamax daily hire rates were $22,250/day versus $22,575 the prior week.
Container rates from Asia to the US West Coast fell to $7,800 per TEU, and the ILWU West Coast labor contract was set to expire without a deal.
Softer dry-bulk freight lowers grain transport costs at the margin, while the unresolved ILWU contract adds a strike risk for West Coast export logistics. Net effect on feed ingredient prices is modest.
grains.orgJun 30, 2022grains.orgJun 30, 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.
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.
