Loading…
Signal's weekly dry bulk report says freight sentiment weakened as more ships sat in ballast, while vessels congested at Chinese ports due to zero-COVID bottlenecks in Shanghai, Tianjin and Ningbo. Chicago wheat rebounded above $10.8 per bushel from a two-week low on concerns over North American winter crop conditions, and Newcastle coal rose near $326/t.
Weak Chinese port throughput and falling steel demand reduce bulk shipping demand, pressuring ocean grain freight, while North American drought lifts wheat values and feed-grain costs.
breakwaveadvisors.comSignal OceanApr 28, 2022Not enough comparable past events yet for a historical read.
After 283 past bullish logistics events, Wheat (SRW) moved a median -0.2% over 5 sessions (46% higher; middle half -1.4% to +1.3%), and -0.1% over 20.
After 22 past bullish logistics events, Wheat (HRW) moved a median -1.2% over 5 sessions (45% higher; middle half -2.5% to +1.7%), and +3.9% over 20.
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.
