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Capesize rates stalled and fell sharply in the week, with the 5TC down $4,901 to $19,875. Panamax rates weakened after a steady start, despite firm grain demand from South America.
Weaker capesize and panamax earnings lower ocean freight costs for grain and oilseed exporters. Continued softness in freight would reduce the landed cost of imported feed ingredients.
worldports.orgJun 26, 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.
